Biden's winning effect on the crypto market.

[BITCOIN4X]

Bitcoin has been shown to last for many years as a decentralized cryptocurrency. Basically we all know why bitcoin has a price and what determines its price. Increased user trust and adoption have kept bitcoin a tradeable asset at such a high price.

Price fluctuation are often associated with various circumstances including one of the policies, regulation, and also the words of a US president. But none of this affect bitcoin's primary use as a unique payment system. I don't think that investor will lose faith in bitcoin just because of a US president so the price keep going down. It should be that volatility is one of the thing that can help them turn a profit, and it shouldn't have a stable price if their goal is to make a profit.

I am sure trader and investor will continue to believe in bitcoin as a profitable asset because people always know that bitcoin is not a bubble or part of a ponzi scheme. Volatility and speculation remain, but that doesn't mean it's a weakness of bitcoin itself.

[LUCKMCFLY]

For me this is somewhat confusing, in several media they reported that only until December 14 is it known if Biden is really the winner of the presidency, in my case, seeing this news does not cause any impact on my business decisions, but Certainly there are investors, traders who if they do and follow the advice of some influencers, I think that we still have to wait for Bitcoin to pass $ 20k, if everything goes well, it is very likely that this year we can reach that magic figure of $ 20k, even exceed it.

[plr]

Many think that the US presidential election affects the increase in the price of stocks, gold and cryptocurrencies.  However, "Biden's victory does not fully affect the increase in the price of Bitcoin. The increase in the price of Bitcoin, has occurred before the US Presidential election, and usually does occur after the Bitcoin halving."

Even if there is no election now the price of Bitcoin will still increase because of the halving and the process of adoption, what happen to Bitcoin is due to the past events that have happened, people are buying not because of the election or Biden winning the election, they are buying because of the events that happened within the community, remember we are decentralized. 

[Saisher]

I think that we still have to wait for Bitcoin to pass $ 20k, if everything goes well, it is very likely that this year we can reach that magic figure of $ 20k, even exceed it.

Do we have time for that, only over a month, and Bitcoin is only at $16 k I doubt it can get past even the $18k mark, but we are sure to reach another all-time high next year so save your hope, expectation, and excitement I just hope there will be no more bad news like the Pandemic so we can continue to move forward.

[arwin100]

I think that we still have to wait for Bitcoin to pass $ 20k, if everything goes well, it is very likely that this year we can reach that magic figure of $ 20k, even exceed it.

Do we have time for that, only over a month, and Bitcoin is only at $16 k I doubt it can get past even the $18k mark, but we are sure to reach another all-time high next year so save your hope, expectation, and excitement I just hope there will be no more bad news like the Pandemic so we can continue to move forward.

Actually it's bad to disclosed things since we know the characteristic of bitcoins show some unpredictable movement so provably by that month we can see that figures to surpass since Bitcoin can possibly jump to that level without us noticing it. We see that happen before and it might happen right now since if you look at the situation even there's a pandemic the bitcoins shows a good sign which really contributes for people's positive outlook these days.

[Sebas.tian]

Biden's winning will help Bitcoin grow if he play back his skirts during the campaigns, He (Biden) actually made some promise that he's going to inject some good finances into the US economy which if executed the bullish Bitcoin will experience a massive surge, though these are politician which words shouldn't be trusted, but from his campaigns words, his presidency will enhance  Bitcoin price which is currently on a bullish note.

[Ridwan Fauzi]

The US election always give a good thing for bitcoin and seem like for all investment place. But, I think the investor will have a strategy buy the rumor and sell the news and that is what is happening now. Also the US election will give a bad thing for DXY, especially in this pandemic situation where if Joe Biden win then he will give a lot of stimulus and this will make the dollar price countinue to fall. And I have another prediction that bitcoin price will up again soon, considering the stimulus promised by Biden has not been issued and if that happens bad things will happen to the dollar and good things will be with bitcoin, let we see how far bitcoin will go.

[pilosopotasyo]

you look at the situation even there's a pandemic the bitcoins shows a good sign which really contributes for people's positive outlook these days.

There's only few events or circumstances that affect Bitcoin's price one of this is the pandemic which we are having right now, but I never think that Biden winning has an effect on the market, there's just people who are so imaginative to connect that Biden's winning has something to do  with the market when actually there is none to connect, maybe when he is already sitting

[sana54210]

Bitcoin halving was something people said would take into affect way after it happened and not many people really cared about it. The logic was simple, there are less bitcoins mined by miners every single day, on day 1 it is not affecting as much because they have some bitcoins saved aside and it is just one day and one trading volume impact, but the longer we have lower mining output means less savings miners have and less savings they have means the more they will start selling their mined current ones and the more they sell their current mines the higher price will be required for them to make the same profits.

So, it was due time when bitcoin increased so that miners could keep profiting the same way they did before halving happened.

[Oceat]

Why is everyone making lots of thread about politics when crypto market has nothing to do with them the same with the pandemic. Bitcoin price did grow because the adaptation is increasing almost everyday we can't stop this from happening technology evolves everyday.

Lots of factors why Bitcoin price is increasing and one of the reasons about it is the PayPal recently accepted Bitcoin as a payment. We can't deny that Bitcoin is slowly gaining popularity across the globe and famous companies. Btw, Bitcoin is still sitting nearly at $16k I doubt if it would break another level of resistance again.

[STT]

The Biden story is from here to Feb which means daily and weekly bars to me in its influence if any and I presume there is some but it will be in form of market cycles and general weakness or strength to the dollar.    The reason we speculate on politics is that unfortunately it now effects everything via the Federal reserve and US treasury debt, you have a boulder the size of 20 trillion that makes a big splash no matter the market no matter which sea good ship Bitcoin sails in.   BTC is global but its still going to be altered by events such as this, thats a fair premise.

As we get to the end of the week I look at daily bars and weekly bars as they close and we start a new one, it seems fair to look at the conclusion upon the formation of the close and everything before that is speculative to some extent.   If we take the Biden effect as bullish and expect a rise to continue then I'm looking at 15572 as a line to watch, largely as its matching the daily bars in regular closing prices for most of this month so I think that higher area must hold now for the story to continue in BTC terms.

[Jating]

We will see then as Biden Confirms Crypto-Savvy Gary Gensler Will Lead Financial Policy Transition Team.

A former chairman of the Commodity Futures Trading Commission (CFTC), Gensler was tapped to lead the agency review team for the Federal Reserve, banking and securities regulators, the Biden campaign formally announced Tuesday, following reports last week he was a contender.

As CFTC chairman, Gensler served as a key financial regulator for former President Barack Obama, spearheading new derivatives rules after the 2008 financial crisis. He also served in the Treasury Department during the Clinton administration.

Maybe he is pro-crypto, or maybe not, but what's important is that we have someone in the Whitehouse that really knows a thing or two about crypto so that's fair enough for us. And this is just the beginning, maybe we can see familiar names surrounding Joe Biden's presidency that might bring some fresh air to crypto market and might be the reason for a bull run in 2021.

[ultrloa]

Why is everyone making lots of thread about politics when crypto market has nothing to do with them the same with the pandemic. Bitcoin price did grow because the adaptation is increasing almost everyday we can't stop this from happening technology evolves everyday.

Lots of factors why Bitcoin price is increasing and one of the reasons about it is the PayPal recently accepted Bitcoin as a payment. We can't deny that Bitcoin is slowly gaining popularity across the globe and famous companies. Btw, Bitcoin is still sitting nearly at $16k I doubt if it would break another level of resistance again.

Because many are hopeful to see a good result for seeing a new guy  win the presidency but totally this is irrelevant thinking since how does it create change while biden doesn't know about crypto and for sure this will be less on his priority that's why it's better to focus on current happening than dreaming that there's something huge in politics.

[beerlover]

Do you really think that markets didn't really know what the chances were? I mean sportsbooks are sharing what they think will happen with their odds and giving Biden a bigger chance to win based on polls and other stuff they conduct to see and when gamblers wager on Biden so much more, sportsbooks were giving him better chance to win.

So, you think Biden winning was a shock to market? To either crypto or any other? There were just two candidates anyway, it would be either Trump or Biden and I feel like crypto market priced those chances in even before election happened. Sure there were some movements a bit before election, during election and after Biden declared winner, they were all moves but I still think it wasn't really impactful enough to make these kind of huge changes all by itself.

[Webetcoins]

On average Trump period had under 10k level, sure he has seen the all time high price of 2017 December but when you take the 4 years average he has seen quite lows as well around 3-4k levels for a long period of time. Biden won and the first thing bitcoin did was to go above 18k dollars and I assume this is just the start.

For the next 4 years with Gary Glenser and many other people like cryptomom and similar who are in Biden administration or find jobs around government levels and like crypto and surround their lives around crypto, I could say that we are going to see as much as 50k in the next 4 years. Obviously this is just a hyperbole and reactionary but what is bitcoin price if not reactionary, we hear a news and it goes up right away, that is what bitcoin has done for the past 10 years.