Investors and residents have shared their opinions on financial and cryptocurrency forums, and a reply by television personality Jim Cramer made viewers wonder whether he is hinting at the year of Donald Trump’s next win.
The following is Monday, November 4th. After reviewing the market movements, Cramer said that investor confidence in Kamala Harris’s Vice Presidential Candidacy increased. However, less informed crypto investors who know about Trump’s inverse Cramer effect see this as a possibility that the election may turn in Trump’s favor.
Trump Win Predicted? The “Inverse Cramer” Effect and Its Impact on Market Sentiment
The so-called “inverse Cramer” effect, well known in the financial world, posits that Cramer is wrong in his forecasts. In response, an ETF was brought to market to capitalize on people shorting all the stocks Cramer recommended. The fund, however, was short-lived, as El returned only a negative 15% after just 10 months before being liquidated, thus proving that sometimes Cramer was not entirely wrong.
Expectations of Trump to win are growing, especially on the Polymarket, a decentralized prediction market where large builders, or ‘whales,’ place millions of dollars on Trump’s chances.
A single large account created under the wallet’s pseudonym “wallet mobile” for anonymity bought around $5 million worth of USDC to support Trump on Polymarket. In comparison, it has already placed $2.8 million, based on Lookonchain. Another famous whale of Polymarket, “Signal,” who is Polymarket’s largest Trump believer, has increased his Trump bets by $3.1 million.
Early November findings show that Polymarket odds currently support Trump, though this was not the situation in September. In particular, in October, the investor “Fredi9999,” thanks to his movement above $20 million, purchased the “Yes” shares to strengthen Trump’s odds by more than 60%. Initially, this was done by “Fredi9999,” but this bot is now in second place to “signal,” which has 29.4 million “Yes” shares and more than $528 thousand in unrealized profit.
For the first time, cryptocurrency is now a political issue, and the stakes are high. Trump can take a more friendly approach to cryptocurrencies and crypto regulation, but Harris, respectively, can keep up with the current cryptocurrency regulation.
As election day begins, the increasing popularity of prediction markets demonstrates that politics is the perfect intersection for the crypto community’s speculation. Only time will tell whether Cramer’s prediction will increase or have the inverse Cramer phenomenon.
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