Bitcoin, Gold, And Silver To Moon If Democrats Dominate US Elections, Says Alex Kruger

Today, the crypto market looks great, and Bitcoin saw a significant boom. The king coin is up by more than 4% in the past 24 hours, and it’s trading in the green.

At the moment of writing this article, BTC is priced at $11,382.11.

Ethereum (ETH) is up by more than 7% in the past 24 hours, and the coin is priced at $375.97.

Bitcoin will moon is the Democrats win, says Alex Kruger

It’s been just revealed that crypto analyst and economist Alex Kruger said that Bitcoin would be mooning if the Democrats win the upcoming presidential and congressional elections.

Kruger also said that A Democratic victory would be bullish for gold, silver, and base metals; on the other hand, it will be bearish for the US dollar and crude oil.

If Kruger’s scenarios play out, this will be against the statistical norm. the presidential elections are not usually a massive factor in the US dollar strength, but on the other hand, the dollar tends to perform better after Democratic presidential victories, according to research that was conducted by Richard Falkenhäll, a senior FX strategist at SEB Group.

Kruger also said that a Democratic “clean sweep” would be a positive development for risk assets – crypto.

According to the reports of the online publication the Daily Hodl, Kruger said that if Trump wins the elections, this could be more bullish in the short term for Bitcoin. He said that if Biden wins, this would be good for BTC in the long run.


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CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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