Well as far as stock market goes:
Dow climbs more than 800 points as vaccine news, Biden victory rev up markets. So it's good to hear that Biden winning the US election has somewhat bring positive effect to stock markets. We have seen the impact on crypto already, as the price goes to $16k, but right now it settled above $15k which is strong by the way. And witht Pfizer's vaccine moving forward, I'm sure that 2021 might be a good year not just for US economy but globally we might see other nations also standing up and their economy started from the ground.
All of that are good news, but crypto here has it's good market movement when the economy are struggling, and a rise of stock market does not also mean a rise of crypto as they never correlate with each other, investors would still prefer stocks and I'm afraid some crypto investors will be pulling out that money to play in a safer grounds.
Crypto market really shows its good performance even with this pandemic. But I do think otherwise about crypto investors, instead of pulling out I guess some of them are still investing in crypto. But in terms of US election results affecting crypto, I guess it is not significant right now as it is independent of what's happening in politics. But we will see in the next coming years what is the stance of Biden towards crypto.
Exactly, bitcoin is not something that is tied with USA, it's independent, non regulated or we say, decentralized which means no one in control. The significant positive movement of bitcoin this year is not expected actually, because we are in pandemic and yet we have a healthy growth, therefore I don't think the rise will continue, we might see some big correction coming soon before the end of the year.
