Experienced Analyst Recommends a Long Strategy on Bitcoin and a Short Strategy on This Altcoin Before the US Elections!

Bitcoin and cryptocurrency The US presidential election day, which is critical for the market, has arrived. Investors BTC While we were wondering how the market would move, an updated analysis came from 10X Research.

Stating that option investors are betting on sharp price fluctuations as the US presidential elections come to an end, 10x Research told investors which tactical transaction could be in the expected high volatility environment resulting from the election.

Accordingly 10x Research, founder Markus Thielen In a note he sent to his customers, in the current situation, that is, before the US elections He suggested a long strategy on Bitcoin and a short strategy on Solana.

According to Coindesk, Markus Thielen said, ““A tactical trade heading into the election might include going long Bitcoin and shorting Solana.” he said.

Stating that the US election results will have far-reaching effects on cryptocurrencies, Thielen said:

“If Harris wins, the likelihood of other crypto ETFs like Solana gaining approval may decrease, leading to a 15% decline in Solana. If Harris wins, Bitcoin may experience a more limited decline of approximately 9%.

“In the event of Trump’s possible victory, SOL, BTC and Ethereum may rise by approximately 5% as the upward trend continues.”

Thielen said that his short position recommendation for Solana was due to the fact that daily transaction fees on the Solana network fell to $ 2.5 million, in addition to the possibility of Harris winning and bringing a decline.

Analyst ““Daily transaction fees on Solana have fallen significantly from the record highs reached last month, signaling bearish signals for the SOL token.” he said.

Solana continues to trade at $161 at the time of writing.

*This is not investment advice.