Fundstrat’s Tom Lee suggests that the financial markets are currently favoring a Donald Trump victory in the upcoming November elections.
In a recent interview with CNBC, Lee points out that the markets perceive Trump’s chances of winning to be higher than what conventional polls indicate.
“The markets seem to be leaning towards Trump having better odds of winning than what the polls are suggesting.
Once the market becomes more convinced of this, we can expect cyclical stocks, small caps, and Bitcoin to perform better due to clear policy distinctions.
Indeed, in my view, recent market trends indicate a growing belief in Trump’s electoral prospects over what the polls are indicating.”
Real Clear Politics data shows that Democratic candidate Kamala Harris currently leads Trump in the polls, based on a compilation of data from Rasmussen, Pew Research, Ipsos, and other sources.
Lee has previously suggested that potential rate cuts from the Federal Reserve, which Trump has shown support for, could be the trigger that propels Bitcoin (BTC) to $100,000.
“If the Fed initiates rate cuts, we could witness a surge in Bitcoin prices, analogous to the performance of small cap stocks. Various factors are tied to the Fed’s cutting cycle…
I believe that $100,000 or more is within reach. Bitcoin is known to make significant gains in short periods, typically concentrated in ten trading days. These spikes could occur in the latter part of this year.”
As of the time of writing, Bitcoin is valued at $64,225.
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