Bitcoin and the crypto market have underperformed in comparison to equities and gold since the second quarter. However, this could change very soon, courtesy of Donald Trump and Elon Musk.
Trump - the pro-crypto candidate - has been surging in the polls lately and is once again the favourite to win the White House.
Much to the delight of crypto investors, he is also tapping in Tesla and X owner Elon Musk for a cabinet or advisory role, calling him a “brilliant guy”.
A Trump victory - together with Musk joining his administration - could spark the next crypto bull run. Smart money investors are already buying Bitcoin, altcoins like Dogecoin and XRP and new meme coins such as Base Dawgz and Shiba Shootout in preparation for such a scenario.
When Will The Next Crypto Bull Run Start?
The market is forward-looking and often prices in bullish and bearish factors ahead of time.
For instance, crypto prices could start to pump if the odds of a Trump victory continue to surge. The former president has already erased a 10-point Kamala Harris lead and is now ahead by 7 points himself on Polymarket, all in a span of two weeks.
He is also outperforming his Democratic opponent in 4 out of the 6 states, including the all-important Pennsylvania.
The latest Nate Silver model also reveals that Harris’s odds of a victory have been decreased by 3 points. This is despite the ongoing Democratic National Convention, which should have been giving the Vice President a bump in her poll numbers.
#New Nate Silver Model 🔵 Harris 52.7% (-3 From Aug 16)🔴 Trump 46.9% (+3) pic.twitter.com/Nec5iQrUXk
— Political Polls (@PpollingNumbers) August 22, 2024
Quite simply, Donald Trump is now the favourite to win the White House again. If his lead continues to balloon, investors could start to front-run a Trump win, resulting in a substantial boost in crypto prices.
Additionally, Elon Musk’s inclusion in the Trump cabinet would also be bullish for the crypto market. For instance, Dogecoin - which rallied on every positive Musk development - would likely go parabolic if the billionaire were to truly join the Trump administration.
In fact, the DOGE price saw an uptick earlier this week when Musk claimed that heading the Department of Government Efficiency - in short, DOGE - would be the perfect role for him.
I am willing to serve pic.twitter.com/BJhGbcA2e0
— Elon Musk (@elonmusk) August 20, 2024
Considering that meme coins move in unison, a Dogecoin bull rally would likely result in meme coin mania.
Add to it the Federal Reserve’s near-certain interest rate cuts next month and the next crypto bull run appears poised to start as early as September.
What Are Smart Money Investors Buying Before a Trump Victory?
Experts are advising investors to not over-complicate their preparation for the next bull run.
For them, Bitcoin still remains an attractive buy, thanks to the spot BTC ETFs. In fact, the Bitcoin price could hit $100,000 on a Trump victory, owing to his promise of creating a strategic Bitcoin reserve.
XRP is another excellent investment, considering that Trump has pledged to fire SEC Chairman Gary Gensler. XRP is also highly undervalued and could offer up to 6x returns if it only hits its previous all-time high.
As previously mentioned, the Dogecoin price will skyrocket if Elon Musk joins the Trump administration. Considering that meme coins move in unison, smart money investors are also not underestimating similar low-cap tokens such as Shiba Shootout (SHIBASHOOT).
Indeed, SHIBASHOOT is in high demand, having already raised over $1 million in its presale. Its Wild West-themed and cowboy-themed rewards - like Cactus Staking and Posse Rewards - have attracted some deep-pocketed buyers.
Some analysts even believe that Shiba Shootout could offer up to 100x returns after its launch.
Base meme coins are also in high demand. There is a reason why Binance Futures has listed the Brett coin. Once again, meme coins rally together and considering Brett will only offer limited returns owing to its large valuation, smart-money investors are buying low-cap tokens such as Base Dawgz (DAWGZ).
DAWGZ has also impressed investors with its presale performance, raising nearly $3 million in a few short weeks.
Thanks to its strong early demand, innovative utilities and multi-chain status, analysts believe that Base Dawgz could offer up to 20x returns.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
