Bitcoin Forum

I agree!

http://www.nasdaq.com/article/us-election-puts-1000-bitcoin-within-reach-cm633058

Interesting article.


What? If one's not worried about his fiat holdings right now, then there's a problem with such a person... :D

That being said, as seen before, problems in a country's currency may lead to increased search for Bitcoins. We've seen it in Greece (although reports were a bit questionable), we've seen it in Venezuela (where interest in Bitcoin does seem to be on the rise) and also Brazil. The USA is a big economy, so if a lot of people get interested in Bitcoin all of a sudden, it might cause a price bump... But this is also a bit unlikely. Even if there was a surge of interest in USA for Bitcoins, there are other forces driving the market, pretty strong ones... So USA alone wouldn't bump things to 1000$ :) In the end, it's like the author says... Let the price take care of itself.

More importantly, George Soros, who made his billions shorting the financial markets, is now putting his money on another global depression:

http://www.wsj.com/articles/a-bearish-george-soros-is-trading-again-1465429163

Yeah, that would make BTC more valuable, and as much as I want that to happen, I hope it doesn't happen because millions of people are negatively affected by a global recession. Still, BTC should be a safe haven. If you want untraceable currency, get Monero.

I could not agree more. $1000 here we come.

Unfortunate that this article isn't freely available, seems to be interesting, does it say anything about Soros and Bitcoin?

It says Soros is putting his money on a global recession, but nothing about BTC.

Here's an article you should be able to access for a similar story:

http://www.breitbart.com/big-government/2016/05/17/billionaire-soros-cuts-u-s-stocks-37-buys-gold-miner/

Also, I just googled "soros recession" and limited results to the past week, and there were a lot of results.

http://uk.businessinsider.com/george-soros-trading-again-2016-6?r=US&IR=T

A prime example of entirely selective interpretation of cause and effect. I think the US election is one of the least significant events that could have something to do with Bitcoin's price performance. Although the public does pay attention to the value of money in their pockets, it is generally not too eager to change attitude based on political speeches alone. A true change of mind can only be expected when people feel the effects of inflation (caused by monetary policy) in their pockets.

Also one has to consider that Bitcoin is not entirely dominated by US users. Especially the Chinese have a big impact on the Bitcoin economy.

I think that the Halving will have a far greater impact on the near-term Bitcoin valuation than any political event of any kind. But even for my claim I cannot offer proof of a cause-and-effect relationship in case that there is a price increase, because all data available are purely correlational.

ya.ya.yo!

This is spot on.  Most people tend to assign a single causality to outcomes.. when in reality its far more than just one simple thing.

All I'm going to say is that the current US Election, coupled with the economy in the state it is, and the "big players" putting their money in multiple different and relatively secure funds are signs of interesting things to come.

$1000 might be in reach if everything keeps on moving the way it has been, but we'll have to see. I would personally buy more Bitcoin if Hillary was to start pulling majorly ahead, as most people know her stances and how they are relatively more aggressive, and this could be an issue in the future. It would be like another few years of Obama.

Yeah,and if Trump becomes president the bitcoin price will hit 10,000$  ;D

I don`t think that the elections will have such an influence over the btc price.

Did the last US president elections have any influence?I think they were back in 2012?

Soros is putting his money in gold. I hate to bring this up, but bitcoin won't hit $1000 without a blocksize increase. The idea that millions of people will rush to bitcoin, put up with massive transaction delays, and won't complain to the press and media about it, is pie in the sky. As soon as the masses can't send transactions, "bitcoin is broken" stories will appear - and yeah I know it's not really broken but delayed, but customers who are used to stuff happening instantly won't want to go old school and wait for a few days for transactions to clear like in the pre-electronic days. Bitcoin simply isn't ready for the masses, I think the opportunity has been lost.

Good points here, both for and against.
I am also watching the Brexit vote in the UK with interest. Coming as it does (23rd) just before the halving (July 10), we may see a strong move on the back of Brexit happening