A widely followed economist believes that the outcome of the US presidential election in November could have significant repercussions on the cryptocurrency market.
In a new interview on the Unchained Podcast YouTube channel, economist Alex Krüger claims that altcoins will likely do better if former US President and Republican candidate Donald Trump wins.
However, if Democratic candidate and current Vice President Kamala Harris wins, he says Bitcoin (BTC) would likely be the best performer in the market.
“If the Democrats win, you’ll want to do Bitcoin. And if the Republicans win, you should bet on the Solana ETF (exchange-traded fund) and altcoins in general. Maybe this is a good opportunity to talk about DeFi (decentralized finance)…
There’s a narrative that’s building in the cryptocurrency space that basically talks about the fair value or the attractiveness of certain DeFi names. And if that were the case, it would make sense that this niche would do well under Trump, given that Republicans are fundamentally pro-crypto, Harris is against (it), and Bitcoin is not necessarily a cryptocurrency. Bitcoin is digital gold. So that’s the rationale.
He also says the cryptocurrency market will likely see some volatility on election night, when voting results begin to come in.
“It’s going to be a very important trading election night… This is the time when, if you’re trading, you want to stay up all night, and when the odds are tilted one way or the other, you really go like max long or the other way.”
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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