Bitcoin Could Soar to $92,000 If Trump Wins, Predicts Bitwise Executive

In a bold prediction, Jeff Park, head of alpha strategies at Bitwise, has stated that Bitcoin could reach as high as $92,000 if Donald Trump secures victory in the upcoming U.S. presidential election this November.

Park shared this analysis in a recent post on X, where he utilized “merger arb-style probability math” to evaluate Bitcoin's price movements against Trump’s odds on the decentralized betting platform Polymarket.

Park’s assessment suggests that the market is positioning itself for a potential rally should Trump win, joining a chorus of analysts and crypto enthusiasts who believe a Trump presidency could ignite significant momentum in the cryptocurrency space. The prediction aligns with sentiments from notable figures like Bitcoin millionaire Erik Finman, who has suggested that prices could even hit $100,000 under a Trump administration, citing expected pro-crypto policies.

Trump’s campaign has heavily focused on crypto, promising to transform the U.S. into the “crypto capital of the world” and pledging to remove Securities and Exchange Commission Chair Gary Gensler on his first day in office. This pro-crypto stance resonates with many voters who prioritize cryptocurrency-friendly policies.

However, the landscape is not entirely uniform. While some experts anticipate a surge in crypto prices, others, like billionaire investor Mark Cuban, express skepticism. Cuban has warned that any initial boost in the crypto market following a Trump victory could be short-lived. He argues that certain economic policies proposed by Trump, including controversial import tariffs, may lead to inflationary effects that could ultimately hinder Bitcoin's long-term growth.

As the election draws closer, the correlation between political events and cryptocurrency markets continues to capture the attention of investors. With current polling showing Kamala Harris leading Trump by 1.8% nationally, but Trump holding an 18.8% advantage in betting markets on Polymarket, the outcome remains uncertain.

As the political climate evolves, all eyes will be on the potential impact a Trump victory could have on Bitcoin and the broader crypto market.