Could the US presidential election in November have significant effects on the cryptocurrency market? According to economist Alex Krüger, the answer is definitely yes. The results of the upcoming elections could determine whether altcoins or Bitcoin will be the winners in the crypto world. Therefore, Krüger’s analyses offer very important clues for crypto investors.
What Could Happen If Donald Trump Wins?
In a conversation on the Unchained Podcast, Krüger expressed that if former US President and Republican candidate Donald Trump wins the election, altcoins will rise. Especially some ETFs like Solana and DeFi (decentralized finance) projects could benefit from the Republicans’ positive stance towards crypto.
Krüger said, “Republicans are pro-crypto. Harris, on the other hand, has an opposing stance. Bitcoin is not a cryptocurrency but digital gold. Therefore, if Trump wins, a great opportunity could arise for altcoins and DeFi projects.”
What If the Democrats Win?
However, things could change if the Democrats’ candidate and current Vice President Kamala Harris wins. In this case, Krüger notes that Bitcoin will be the safest haven. Since Democrats view Bitcoin as digital gold rather than a cryptocurrency, this could make Bitcoin more attractive.
So, what will happen on election night? According to Alex Krüger, there will be significant fluctuations in the crypto markets that night. As the election results come in, the markets will react quickly. This phase could create a great opportunity for investors.
Advice to Stay Awake on Election Night
Foreseeing this volatility on election night, Krüger advised crypto investors to stay awake that night and quickly adjust their strategies as results shift. Krüger added, “We need to give our full attention to the market that night. As the election results lean one way, immediate positioning may be necessary.”
The upcoming US presidential election could cause significant fluctuations in the crypto world. According to Krüger’s analyses, altcoins could rise with Trump’s victory, while Harris’s victory could make Bitcoin a safe haven. After the Fed’s interest rate cuts, the most important agenda in the crypto world will now be the US elections.
