Trump Win Could Spark Altcoin Rally, Says Bitwise’s Matt Hougan
Bitwise Asset Management’s Chief Investment Officer Matt Hougan stated on October 30 that a Trump victory in the upcoming election could drive an altcoin rally due to increased regulatory clarity and institutional interest.
In a recent interview with Yahoo Finance, Hougan emphasized that while Bitcoin is positioned for growth regardless of the election outcome, a Trump win might accelerate regulatory support for altcoins, potentially boosting their market appeal.
Trump’s Victory Would Bring Regulatory Clarity
Hougan explained that Bitcoin’s regulatory situation is improving, and he expects continued institutional interest and adoption across the sector.
He clarified that the broader crypto market could benefit under either administration but that altcoins, particularly, may see more favorable conditions with a Trump win due to anticipated regulatory shifts.
“We’re going to $100, 000 plus next year,” Hougan said. He added that some altcoins, unlike Bitcoin, face lingering regulatory uncertainties, making them more susceptible to potential policy changes.
Hougan emphasized that Bitcoin’s regulatory classification has already brought some stability, referring to its designation as a commodity by the CFTC.
“Bitcoin has more regulatory clarity than Ethereum and other assets,” he stated.
In contrast, Hougan noted that several altcoins, including Ethereum, are more exposed to potential policy shifts.
“This Is the Best Single Time To Invest in Bitcoin”
“Look, I think this is the best single time to invest in Bitcoin from a risk-adjusted perspective,” Hougan stated.
He attributed Bitcoin’s current momentum to a convergence of factors, including reduced volatility, institutional participation, and new financial products like ETFs that facilitate broader access to crypto.
Hougan mentioned that while a Trump victory could lead to a quicker boost for altcoins through regulatory clarity, a Harris victory wouldn’t drastically alter the long-term trajectory for Bitcoin and the crypto sector.
According to Hougan, even if short-term volatility occurs under a Harris administration, he sees it as a temporary setback. In the long run, bipartisan interest in crypto regulation is expected to support continued growth in digital assets.