Bitwise Strategy Director: "Bitcoin Will Reach $92,000 If Trump Is Elected"

Correlation between BTC and Trump's approval rating pointed out

Jeff Park, Chief Strategist at Bitwise, expressed the opinion that if former President Trump is re-elected as the US President in November, BTC (BTC) could reach a maximum of $92,000.

On the 23rd, Jeff Park, the Chief Strategist, pointed out the correlation between the price of BTC and the approval rating of former President Trump on his X account.

He said, "From August 15 to October 20, the graph of former President Trump's approval rating and BTC showed a proportional relationship," and "According to the theory of merger arbitrage, if former President Trump is elected, the price of BTC can rise to a maximum of $92,000."

Merger arbitrage is a strategy that seeks to profit from the price difference that temporarily occurs between the stock that is extinguished and the stock of the surviving or newly established company due to a large-scale event such as a corporate merger.

Recently, BTC has surged in line with the rise in former President Trump's approval rating.

The probability of former President Trump's election, disclosed by the betting site 'Polymarket', is 54.8%, far exceeding the probability of Vice President Kamala Harris' election at 44.8%. As the close competition between the two candidates tilted towards the 'pro-cryptocurrency candidate' former President Trump, investors also rushed to bet on the cryptocurrency market, including BTC.

Reporter Kwon Seung-won ksw@