Bitwises Matt Hougan suggests that a rally in altcoins may be triggered by Trumps victory

Bitwise Asset Management’s Chief Investment Officer, Matt Hougan, has suggested that a Trump victory in the upcoming election could lead to a rally in altcoins. Hougan believes that increased regulatory clarity and institutional interest could drive the market appeal of altcoins if Trump wins. He stated that while Bitcoin is poised for growth regardless of the election outcome, altcoins may benefit more from a Trump administration due to anticipated regulatory shifts. Hougan also noted that Bitcoin’s regulatory situation has improved, with its designation as a commodity by the CFTC bringing some stability. In contrast, altcoins like Ethereum are more exposed to potential policy changes. Despite this, Hougan believes that now is the best time to invest in Bitcoin, citing reduced volatility, institutional participation, and new financial products like ETFs as contributing factors to its current momentum. He believes that even if there is short-term volatility under a Harris administration, bipartisan interest in crypto regulation will support continued growth in digital assets in the long run.