CandleFocus Long Bitcoin Short Solana Preferred Tactical Trade Heading Into U.S. Election: 10X Research
2024-11-05
Author: Content Editor
Crypto research firm 10x Research suggests a tactical trade heading into the US election that involves going long on Bitcoin (BTC) and short on Solana (SOL). The firm believes that if Kamala Harris wins, the likelihood of US-based exchange-traded funds (ETFs) tied to alternative cryptocurrencies like SOL getting approved may decrease, potentially leading to a 15% drop in SOL. On the other hand, a Trump victory could see SOL, BTC, and Ether (ETH) rise by around 5%. Additionally, factors such as daily transaction fees on the Solana network cooling and the lack of a SOL ETF compared to BTC and ETH ETFs also support the short SOL position.
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