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Bitcoin blew past all major resistances, escaped its correlation with the stock market, and even reached a price level that was last seen in June 2019. Bulls have clearly shown their dominance and it is as if almost nothing can stop them. But will the leading cryptocurrency withstand the influence and results of today’s U.S. Presidential election?

Both Donald Trump and Joe Biden are deemed to have a high chance to win. More than that, experts now believe that both candidates will have a positive effect on the stock market. But how will the now uncorrelated Bitcoin react, if it even does? Do whales favor a certain candidate?

The ongoing narrative shows that the uncertainty surrounding the future stimulus bill has put all markets on hold, and the U.S. election results may just show how the situation may play out.


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https://cryptotelegram.com/bitcoin-us-elections-2020/

conclude that these positive outcomes may not occur in the same timeframe. In the case of Donald Trump winning, Bitcoin would react far strongly and instantaneously compared. His candidate represents the ‘unknowable’ and the past four years have already shown what we can expect under Trump’s candidacy.

Biden is another uncertainty for the market, but not for long. His win would probably astonish the markets for a moment. Bitcoin may not move at all, and if it did, a small pullback could be possible. However, that would quickly be reversed as soon as the candidate would start talking about the future stimulus bill. In that case, bulls could resume pushing the market upwards. But that is only possible if we do not see a renewed season of quarantines.

In the end, it becomes clear that it is not that important which candidate wins today. Ultimately, the winner’s policy will decide the fate of the markets. Since everyone seeks a revival of the economy, it is highly unlikely that Trump’s and Biden’s financial policy differs that much. The outcome can only affect when and how strong Bitcoin will react. It appears that a bullish outcome is almost set in stone.

https://cryptotelegram.com/bitcoin-us-elections-2020/

Bitcoin blew past all major resistances, escaped its correlation with the stock market, and even reached a price level that was last seen in June 2019. Bulls have clearly shown their dominance and it is as if almost nothing can stop them. But will the leading cryptocurrency withstand the influence and results of today’s U.S. Presidential election?

Both Donald Trump and Joe Biden are deemed to have a high chance to win. More than that, experts now believe that both candidates will have a positive effect on the stock market. But how will the now uncorrelated Bitcoin react, if it even does? Do whales favor a certain candidate?

https://cryptotelegram.com/bitcoin-us-elections-2020/

What do you guys think, who's better for crypto? Trump or Biden?

https://cryptotelegram.com/bitcoin-us-elections-2020/