Altcoins Potential to Thrive with Republican Victory, Bitcoin as Secure Choice with Democratic White House Takeover: Analyst Krüger
A well-known economist suggests that the upcoming US presidential election in November could have a significant impact on the cryptocurrency market. In a recent discussion on the Unchained Podcast YouTube channel, economist Alex Krüger expressed his views on how different election outcomes could influence the market.
Krüger believes that if former US president and Republican nominee Donald Trump wins, altcoins are likely to perform better. Conversely, if the Democratic nominee and current Vice President Kamala Harris emerges victorious, Bitcoin (BTC) is expected to be the top market performer.
He elaborated on this by stating, “If the Democrats win, you want to do Bitcoin. And if Republicans win, it should be a bet on the Solana ETF (exchange-traded fund) and on altcoins in general. Maybe this is a good opportunity to talk about DeFi (decentralized finance)… There is a narrative building up in crypto, basically talking about how fairly valued or attractive some DeFi names are. And if that were to be the case, it would make sense for that niche to do well under Trump with a view that basically Republicans are pro-crypto, and Harris is against [it], and Bitcoin is not necessarily crypto. Bitcoin is digital gold. So that’s the reasoning.”
Krüger also mentioned that the crypto market is likely to experience volatility on the night of the election as the results unfold. He advised traders to stay vigilant and be prepared to make swift trading decisions based on the evolving political landscape.
The economist’s insights shed light on the potential impact of the US presidential election on the cryptocurrency market, emphasizing the importance of staying informed and adaptable in the face of changing political dynamics.
