Highlights:
- A Trump win could boost BTC to $125K by year-end due to pro-crypto policies and a potential BTC reserve setup.
- DOGE may surge with Trump’s win, backed by Elon Musk’s support and significant recent whale accumulation.
- WLFI’s price may rise on Trump’s potential victory, leveraging his direct involvement and market optimism.
The U.S. presidential election is set to take place tomorrow and public opinion polls indicate a very tight contest. Polymarket data indicates that the probability of Donald Trump winning is 58%, while for Kamala Harris is 42%.
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Trump has been quite supportive of cryptocurrencies and has vowed to transform the United States to be the crypto capital and even adopt a BTC reserve. On the other hand, Harris has focused more on the necessity of proper regulations with regard to prices and unfair competition that may harm consumers.
A win by Trump is expected to impact the cryptocurrency market as his policies would most likely encourage the growth and development of the market. Bitcoin, Dogecoin, and World Liberty Financial are set to surge if Donald wins the election.
1. Bitcoin (BTC)
BTC is currently trading at $68,924.43. The previous week, the price was hovering near $72,987 and fell short of the all-time high of $73,798 achieved in March 2024. Experts predict that if Trump wins the upcoming election, it could lead Bitcoin to reach higher levels.
Standard Chartered Bank has predicted that Bitcoin could likely rise to $125,000 before the end of the year if Trump wins. This could mean a near 117% increase from the current levels. Likewise, some analysts expect the coin to hit $100,000 after elections because of bullish crypto policies.
Trump has vowed to set up a U.S. Bitcoin reserve and encourage Bitcoin mining within the country. He also pledged to dismiss the current chairman of the SEC and nominate someone friendly towards cryptocurrency. Traditionally, Bitcoin always surges after each election. Hence, regardless of which candidate emerges as the winner, Bitcoin is expected to go up if it follows historical patterns.
Bitcoin, which was born in 2009, is about to have its fourth US election. Data from the previous three elections show that bitcoin has always maintained its upward momentum after the US elections, never falling back to the election day price. If this trend repeats, the price of… pic.twitter.com/4uEKNq62y9
— Aurora (@Aur95ora) November 4, 2024
2. Dogecoin (DOGE)
DOGE is trading at around $0.157 today. In the past week, DOGE has risen by 9.1% which is due to increasing demand by investors.
A win by Trump might shift the price trajectory of DOGE. Dogecoin enjoys the support of Elon Musk who has endorsed Trump for the election. Elon has contributed more than $312 million towards Trump’s campaign. Recently, Trump disclosed that he will appoint Elon to a new white house position as the secretary of cost-cutting.
Recent market activity indicates major accumulation by large investors. One whale has acquired 155 million DOGE, signaling confidence in the coin’s future. Such movements often precede price surges, suggesting a potential surge for Dogecoin.
🚀 Dogecoin is riding the bullish wave, reaching a 5-month high of **$0.1684**! 📈 Currently trading at **$0.165**, it’s up **15%** in the last 24 hours, with a market cap soaring past **$24 billion**! 💰
But there's more: over **350 million DOGE** hit centralized exchanges on…
— Iris.ETH (@Iris_Ethereum) November 4, 2024
3. World Liberty Financial (WLF)
The price of WLFI has risen by 3.36% in the last week and 140% in volume. Donald Trump has a direct link with WLFI as he is directly involved with the cryptocurrency project along with his sons.
However, WLFI has had difficulty in fundraising despite the recent increase in its prices. The project initially aimed at raising $300 Million. However, because of the low demand for tokens and problems during the launch, the targeted amount was reduced to $30 million.
World Liberty Financial, a DeFi venture linked to former U.S. President Trump, caps U.S. token sales at $30M, directing 90% of its $288.5M offering to international investors for regulatory flexibility.
This shift signals a growing trend of U.S. crypto projects turning global… pic.twitter.com/4t5jISochb
— BuzzBeatHQ (@mely_buzz) November 4, 2024
The project has not met expectations and has only achieved a small portion of its fundraising target. Nevertheless, a possible Trump win in the upcoming election may have a positive impact on the price of WLFI. Trump’s support for cryptocurrency and the growing awareness of his related projects could draw in more investors, potentially causing a surge in WLFI’s market growth.
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