Crypto asset manager Bitwise’s head of alpha strategies, Jeff Park, has predicted that Bitcoin could soar to $92,000 if Donald Trump wins the U.S. presidency in November.
In an Oct. 22 post on X, Park wrote that by charting Bitcoin’s price against Trump’s odds on the decentralized betting platform Polymarket, and using “merger arb-style probability math,” there is a strong chance of Bitcoin surging after a Trump victory.
“I project a Trump victory could push BTC to ~$92,000,” Park wrote.
Park’s bullish forecast adds to a growing number of analysts and market watchers expecting a Trump win to drive up crypto prices. Bitcoin millionaire Erik Finman echoed this sentiment, telling Cointelegraph that a Trump victory could see Bitcoin reach $100,000. “His policies will ignite the crypto market, fueling massive growth across the board,” Finman said.
Crypto’s connection to the election has never been so pronounced, with Trump making pro-crypto policies a central part of his 2024 campaign. In a bid to attract single-issue crypto voters, he has promised to transform the U.S. into the “crypto capital of the world” and pledged to remove Securities and Exchange Commission Chair Gary Gensler from his position on “day one” of his presidency.
However, not everyone is convinced that a Trump win would benefit the crypto market in the long run. Billionaire investor Mark Cuban, who supports Kamala Harris, told Cointelegraph that while a Trump victory may cause the crypto markets to “pump for a few weeks,” they are likely to decline afterward. Cuban noted that several of Trump’s economic proposals, including controversial import tariffs, could be highly inflationary, potentially hindering Bitcoin’s performance over time.
Currently, Harris holds a narrow 1.8% lead over Trump in national polls, according to data from 538 polls.
