Fundstrat’s Tom Lee says that financial markets are currently betting on a Donald Trump victory this November.
In a new interview with CNBC, Lee says that markets believe that Trump’s odds of winning are higher than what the traditional polls show.
“To an extent, I think that the markets are believing Trump’s probabilities of winning are stronger than the what the polls are showing.
But I think that when the market sort of becomes more convinced of that, I think you’ll see cyclical stocks do better, small caps, and Bitcoin do better because these are really clear policy differences.
But yes to me, I think over the last couple of days the market is betting on Trump’s odds being better than the polls.”
According to Real Clear Politics, Democrat nominee Kamala Harris currently has a lead over Trump in the polls, based on an average of data from Rasmussen, Pew Research, Ipsos and others.
Lee has previously said that lower rates from the Federal Reserve – which Trump has reportedly hinted support for – could be the catalyst that sends Bitcoin (BTC) to $100,000.
“But if the Fed starts cutting, I think you’re going to see a move in Bitcoin that would correlate to what small caps would be doing as well, there’s a lot of things correlated to a Fed starting a cutting cycle…
I think that $100,000 or even higher is possible. Bitcoin makes moves in very short periods of time. We have published previously, for many years showing that Bitcoin makes most of its gains in ten trading days if you look at percentage gains. So those ten days could all be in the second half of this year.”
At time of writing, Bitcoin is worth $64,225.
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