Park serves as head of alpha strategies at crypto asset manager Bitwise and created his prediction using “merger arbitrage-style probability math.”

In his post on the “I predict Trump’s victory will push BTC to around $92,000,” Park wrote.

This optimistic forecast joins a growing list of analysts who think Trump’s victory will boost prices of crypto assets. Bitcoin millionaire Erik Finman also shares a similar thought on this matter. Finman stated that he predicts that the price of Bitcoin could rise to $ 100,000 if Trump wins.

Finman stated that Trump’s pro-crypto policies will revitalize the industry and trigger massive growth overall. “His policies will ignite the crypto market and deliver widespread growth,” he added.

Trump’s emphasis on pro-crypto policies in his 2024 election campaign shows how closely related crypto markets have become to political developments. Trump promised to make the US the “crypto capital of the world” if he wins the election.

He also said he would fire current SEC Chairman Gary Gensler on his first day as chairman. Trump claims that Gensler’s oppressive policies on the crypto industry have set the industry back and states that he wants to reverse this.

But not everyone believes Trump’s victory will be a long-term gain for crypto markets. Billionaire investor and entrepreneur Mark Cuban has a skeptical view on this matter. Cuban, who supports Kamala Harris, predicts that if Trump wins, crypto markets may rise for a short time but then decline.

Cuban stated that some of Trump’s economic policies, such as import tariffs, could cause high inflation, which could negatively affect Bitcoin prices in the long term.

Poll results also differ in the race between Harris and Trump. According to 538 polls, Kamala Harris is ahead of Trump by 1.8% in national polls. However, the situation is different in decentralized betting platforms such as Polymarket. In Polymarket, Trump appears to be ahead of Harris by a significant margin of 18.8%.

Crypto market commentators like Jeff Park and Erik Finman think Trump’s victory could mean a big rally for Bitcoin and other crypto assets. However, names like Mark Cuban warn that this rise may be short-lived.

The fact that crypto markets have become so dependent on political developments shows that the election result could have a significant impact on the future of the crypto industry. Time will tell whether Trump’s pro-crypto policies or economic policies will prevail.