As the United States nears its presidential election on November 5, 2024, Bitcoin's market experiences significant volatility. Prior to the election, Bitcoin surged to $73,620, reflecting optimism over Donald Trump's potential victory, but later corrected to $68,830 amid risk-off sentiment.
Argentine economist and analyst Alex Krüger shared strategies for trading Bitcoin during the election. He suggests a Trump victory could push Bitcoin to $90,000 with a 55% probability, while a Kamala Harris win might see it near $65,000 with a 45% chance. Timing is crucial, as market moves could be rapid following Trump's win.
Krüger highlighted that the current Bitcoin price, anticipated to be in the $65k-68k range, overshot expectations favoring a Trump victory. He pointed out uncertainties, especially around the Pennsylvania vote count, which might delay the election outcome and market clarity.
Krüger is bullish on equities regardless of the election outcome, except if there’s a "Blue sweep" by Democrats. His investment strategy includes long positions in Bitcoin, Nvidia, and potential Solana investments if Trump wins, anticipating regulatory clarity and pro-crypto policies.
Krüger notes the market anticipates a Trump win could drive crypto prices up due to expected policies and increased government spending, positively affecting equities linked to Bitcoin’s performance. However, he believes a GOP victory isn't fully priced in yet.
