Altcoins Could Thrive if Republicans Prevail, Bitcoin the Safer Option if Democrats Retake White House: Alex Krüger
A highly regarded economist suggests that the outcome of the upcoming US presidential election in November could have significant implications for the crypto market.
During an interview on the Unchained Podcast YouTube channel, economist Alex Krüger asserts that altcoins are likely to perform better if former US president and Republican nominee Donald Trump emerges victorious.
However, if the Democratic nominee and current Vice President Kamala Harris wins, he contends that Bitcoin (BTC) would likely be the strongest market performer.
“In the event of a Democratic win, Bitcoin would be the way to go. And if Republicans win, it would be wise to bet on the Solana exchange-traded fund (ETF) and altcoins in general. This might be a good moment to discuss DeFi (decentralized finance)…
There is a growing narrative in the crypto space that highlights the fair valuation and appeal of certain DeFi projects. If this were to hold true, it would make sense for this particular sector to thrive under Trump’s administration, as Republicans tend to be more supportive of crypto. On the other hand, Harris has expressed skepticism towards it, and Bitcoin is not necessarily considered part of the broader crypto market. Bitcoin is often referred to as digital gold. That’s the reasoning behind it.”
Krüger also predicts that the crypto market will experience volatility on election night as the results start pouring in.
“The election night is going to have a massive impact on trades… If you’re actively trading, it’s advisable to stay up all night long and take advantage of the shifting odds by going big with long positions or the opposite.”
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