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 talk on the Unchained Podcast, Krüger mentioned 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 approach to crypto. Access NEWSLINKER to get the latest technology news.
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, it could create a great opportunity for altcoins and DeFi projects.”
What If Democrats Win?
However, things could change if the Democrats’ candidate and current Vice President Kamala Harris wins. In this case, Krüger states that Bitcoin will be the safest haven. Democrats view Bitcoin as digital gold rather than a cryptocurrency, which could make Bitcoin more attractive in this scenario.
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 stage could create a great opportunity for investors.
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 the results shift. Krüger added, “We need to pay full attention to the market that night. As the election results lean one way, it may be necessary to take positions immediately.”
The upcoming US presidential election could cause major 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. The most important agenda in the crypto world after the Fed’s interest rate cuts will now be the US elections.
