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Bitcoin could surge to $92,000 if Donald Trump wins the 2024 U.S. presidential election, says Jeff Park, former Bitwise strategist. Some analysts even predict Bitcoin reaching $100,000, though caution remains due to broader economic factors.

Trump’s Impact on Bitcoin
The November 2024 election could significantly influence Bitcoin’s price. Park’s prediction is based on probability models, with market data showing Trump gaining momentum. However, prediction markets still fluctuate between Trump and Vice President Kamala Harris.

Charting $BTC price against Trump’s odds (via @Polymarket) from 8/15 to 10/20 reveals some wild swings—particularly when Harris and Trump took turns leading. By applying merger arb-style probability math, I project a Trump victory could push BTC to ~$92,000

Take that as you will pic.twitter.com/OGy8M3Vju1

— Jeff Park (@dgt10011) October 22, 2024

Current Market Headwinds
Despite speculation, Bitcoin’s rally has slowed due to rising bond yields and a stronger U.S. dollar. Experts warn that while Trump’s win may boost crypto in the long term, short-term risks persist.

Bitcoin’s Market Movements
Bitcoin is currently trading around $67,000, with major investors buying the dip. ETFs like BlackRock’s iShares BTC ETF are seeing strong inflows. However, upcoming options expiries could create volatility.

Conclusion
Bitcoin may hit $92,000 if Trump wins, but rising global financial pressures could pose challenges in the short term. Stay alert to key price levels as the election approaches.