How to trade on the US Election Day? Analysts suggest going long on BTC and shorting SOL at the same time

Markus Thielen, founder of cryptocurrency analysis firm 10X Research, suggests that investors can adopt the trading tactics of LongBTC and Short SOL before the announcement of the US election results. If former US president and Republican candidate Trump wins, it may bring about loose cryptocurrency regulation policies, which could cause a rise in the cryptocurrency market in the short term. However, if Democratic candidate Hillary Clinton wins, cryptocurrency may face unfavorable information in the short term. In this context, Markus Thielen advises investors to use the hedging trading tactics of LongBTC and Short SOL before the election results are announced. He explains that the trading tactics before the election can consider going long on BTC and shorting SOL. The US has recently introduced Spot ETF products for BTC and Ethereum, but if Hillary Clinton wins, the ETF products for SOL and other cryptocurrencies may have little chance of being launched, which could lead to a 15% decline in SOL. Even if BTC falls, the decline may also be limited, about 9%. However, if Trump wins, SOL, BTC, and ETH may all rise, but due to the promotion of Spot ETFs, the rise of BTC and Ethereum may exceed that of SOL. Additionally, Markus also mentioned that recently, the on-chain money laundering on the Solana network has dropped from a daily high of $5 million on October 24th to $2.5 million, which may also be one of the factors leading to a decline in the price of SOL. However, it is worth mentioning that according to previous data, if BTC experiences a big pump and drives other altcoins to rise collectively, including SOL and other cryptocurrencies, they may also experience a bigger rise. Although the US election is still uncertain, BTC has risen by 4.63% in the past 24 hours, and SOL has risen significantly by 9.54%. Therefore, if SOL does not show a significant decline in the future, Markus' investment advice may result in heavy losses for investors, so please exercise caution when making choices.