Skip to content Bet on Bitcoin Now for a Potential 5% Gain if Trump Wins
FxNews—As the U.S. presidential election approaches, markets expect big price changes that could make trading more challenging. To deal with this expected volatility, 10x Research suggests a smart trading strategy: buy bitcoin (BTC) and sell Solana’s (SOL) token.
Bet on Bitcoin Before the Election, Says 10x Research Founder
In a note to clients on Monday, Markus Thielen, the founder of 10x Research, suggested that “one effective move before the election could be to invest in Bitcoin and bet against Solana.”
Thielen explained that the election results could significantly affect digital assets. For instance, the approval of exchange-traded funds (ETFs) in the U.S. linked to alternative cryptocurrencies like SOL might depend on who wins.
Solana Could Drop 15% if Harris Win
He said, “If Harris wins, the chances of these ETFs getting approved might decrease. This could cause Solana’s price to drop by about 15%, while bitcoin might only fall by around 9%.” In simple terms, Solana could lose more value than Bitcoin if ETF approvals become less likely.
Conversely, if Trump wins, Thielen mentioned that Solana, bitcoin, and ether could all rise by about 5%. This is because a Trump victory might lead to more favorable cryptocurrency regulations, boosting prices.
Bitcoin and ether might see bigger gains than Solana because ETFs tied to these cryptocurrencies are already available in the U.S. and have attracted billions of dollars from investors this year. This availability means investors might be more optimistic about bitcoin and ether, expecting supportive regulatory policies under Trump’s presidency.
Solana Spot ETF Awaits Approval as SEC Reviews Applications
Right now, Solana doesn’t have a spot ETF. Companies like VanEck, 21Shares, and Canary Capital have applied for SOL ETFs with the U.S. Securities and Exchange Commission (SEC), but none have been approved yet.
Americans are about to vote for their next president in a few hours. Recent reports indicate that the race is very close, with Democrat Kamala Harris and the crypto-friendly Donald Trump tied in several key states.
Thielen also pointed out another reason to consider selling SOL: daily transaction fees on the Solana network have decreased to $2.5 million from a record high of $5 million on October 24, according to data from Artemis and TokenTerminal. This drop means there’s less activity happening on the Solana network, which can reduce demand for SOL tokens.
Historically, such declines in transaction fees have often led to a decrease in the token’s price.
J.J Edwards is a finance expert with 15+ years in forex, hedge funds, trading systems, and market analysis.
