Bitwise’s head of alpha strategies, Jeff Park, predicted that Bitcoin could reach $92,000 if Donald Trump won the 2024 election. The forecast was conditional: it connected a possible election outcome with a possible Bitcoin price rather than presenting $92,000 as guaranteed. The report describing Park’s forecast provides the basis for that claim.
What the Bitwise forecast said
The central proposition was that a Trump victory in the 2024 election could push Bitcoin toward $92,000. That distinction matters when reading a market forecast. The cited figure was a prediction attributed to a named Bitwise executive, not an observed price at the time of the prediction.
A separate report likewise described the Bitwise executive’s projection as a move toward $92,000 following a Trump victory. That account corroborates the conditional framing, although it does not turn the projection into a certainty.
What happened after the election
Later market reporting recorded a substantial Bitcoin rally. On Nov. 12, 2024, Reuters reported that Bitcoin had moved close to $90,000 and touched $89,982. The same report described that price as a gain of around 30% since Nov. 5 and said Bitcoin was last down 1.4% at $86,730. Reuters documented those observed market figures.
Those figures provide useful context for the earlier $92,000 prediction, but they should not be conflated with it. The Bitwise statement was a forecast tied to an election result; the Reuters figures were subsequently reported market observations. The evidence supports comparing the prediction with the later recorded prices, but it does not establish that the forecast itself caused the rally.
How to interpret the $92,000 figure
Read the $92,000 level as the subject of a conditional forecast, not as a promise. The supporting reports attribute the projection to Jeff Park and connect it to a Trump election victory. Later reporting shows that Bitcoin approached—but did not equal—the forecast figure in the specific Reuters observation cited above.
The most defensible conclusion is narrow: a Bitwise executive projected that Bitcoin could move toward $92,000 under the stated election condition, and Reuters later reported Bitcoin touching $89,982. Any broader conclusion about future prices, guaranteed returns, or a single cause for the market movement would go beyond the supplied evidence.