Fundstrat’s Tom Lee says financial markets are currently betting on a Donald Trump victory in November.
In a new interview Speaking to CNBC, Lee said markets believe Trump’s chances of winning are higher than what traditional polls show.
“To some extent, I think the markets believe that Trump’s chances of winning are better than what the polls show.
But I think as the market becomes more convinced of that, you’ll see cyclicals do better, small caps and Bitcoin do better, because these are really clear policy differences.
But yes, for me, I think the market has been betting in recent days that Trump’s chances will be better than the polls.”
According to Real clear politicsDemocratic nominee Kamala Harris currently has a lead over Trump in the polls, based on an average of data from Rasmussen, Pew Research, Ipsos and others.
Lee has previously said the Fed is cutting rates – which Trump has reportedly done hinted support for – could be the catalyst that sends Bitcoin (BTC) to $100,000.
“But if the Fed starts cutting back, I think you’ll see a move in Bitcoin that would correlate with what small caps would do as well. There are a lot of things associated with a Fed starting an austerity cycle…
I think $100,000 or even higher is possible. Bitcoin makes moves in a very short time. We have published for years showing that Bitcoin makes most of its gains in ten trading days if you look at percentage gains. So those ten days could all fall in the second half of this year.”
At the time of writing, Bitcoin is worth $64,225.
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