Economist Alex Krüger reveals his scenarios for Bitcoin (BTC) on US election night and says there could be a rapid move for the crypto markets.
The trader tells his 185,000 followers on the social media platform
If Kamala Harris comes out on top, Krüger says Bitcoin will likely correct, but only temporarily before an upside move emerges.
“Simple election framework for Bitcoin
Trump wins: BTC $90,000 by year end, 55% probability.
Harris wins: BTC $65,000 by year end, probability 45%.
Weighted average: $79,000.
Expect the move to be quick if Trump wins. Markets rarely wait for laggards in binary events that are not largely front-run…
Trump wins: shoot straight up.
Harris wins: down and then up.
Timing is very important when you have leverage or take major action.”
The economist say that in the event of a Trump victory, his main action of the evening will be to go long Solana (SOL), Ethereum’s (ETH) biggest rival.
“This is how I think about the market. A large number of people disagree. That’s why we have a market. I go to election night for a very long time, without any leverage, mostly assigned to Bitcoin (and Nvidia). My main election night play if Trump wins will be long SOL.
At the time of writing, SOL is trading at $165.
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Generated image: Midjourney