Any relation between market dump and Biden's win?

[CODE200]

To my opinion there is no connection at all between Bitcoin price and US elections or to be precise the fact that Bitcoin won.
In fact I think that influence of politics is not relevant when it comes to Bitcoin, except in cases where governments make certain decisions that directly might influence Bitcoin regulation or something.

Well, this happen usually. People are affiliating things towards the occurrence of something despite of the gap between of each topic from one another. Pandemic, election, and the likes. It will be hard to remind people that the price of Bitcoin and other cryptos are only dependent with the demand and volume of its market. No wonder holidays will also be associated on how will its market value perform a month from now, despite of lack of patterns in the market, also in the first place.

[Lanatsa]

Do you see that guys, the price of cryptocurrencies are in red since Joe Biden crosses the required number of place to become president?

Almost every crypto is in red at the hourly candle and what's your opinion with the dump caused especially after such news?

Market shows that it doesn't really need any external events for its price to be affected.Look at we now? We do even hit 16k and somewhat stabilizing.

This proves out that it is totally independent and cant really be affected by other events outside.This should be put up in mind specially to those who are relying too much on fundamentals.

We don't know on when dump will happen but for sure we would really be having some correction.

[chip1994]

Do you see that guys, the price of cryptocurrencies are in red since Joe Biden crosses the required number of place to become president?

Almost every crypto is in red at the hourly candle and what's your opinion with the dump caused especially after such news?

This is just a coincidence; in addition, Bitcoin is what can help major financial funds in the US fight the impending inflation in the US.
Biden has just nominated Gary Gensler to work at the US Treasury Department. In addition, Biden's upcoming policy is to Lockdown America from 4-6 weeks to eradicate corona virus. this makes the dollar even more vulnerable, and then Bitcoin becomes a valuable asset.
so if Biden is truly elected, then our Crypto market will have the next glorious years.

[exstasie]

I don't think Bitcoin's price is affected much when in strong uptrends, or strong downwards for that matter. Good news in a bear market rarely improves the price, what could be considered bad news for the price in a bull market also doesn't effect much either. The price is very strongly bullish, clearly not even a US election has managed to have a negative effect on the price. Potentially the instability with the political system in the US will mean Bitcoin will benefit from this in the long-term, with Trump challenging the result.

The market seems fairly certain about the outcome. The S&P 500 is hovering at the highs, threatening a new ATH any day now.

But if the stock market were to actually crash, I still think it would take BTC down with it. That scenario just looks unlikely now. Both markets look like they want to keep floating upwards. Major shakeouts will come, but that's all they'll be......shakeouts.

[daarul50]

Do you see that guys, the price of cryptocurrencies are in red since Joe Biden crosses the required number of place to become president?

Almost every crypto is in red at the hourly candle and what's your opinion with the dump caused especially after such news?

Market shows that it doesn't really need any external events for its price to be affected.Look at we now? We do even hit 16k and somewhat stabilizing.

This proves out that it is totally independent and cant really be affected by other events outside.This should be put up in mind specially to those who are relying too much on fundamentals.

We don't know on when dump will happen but for sure we would really be having some correction.

My guess is that there some people cashing out the winning bet right after it gets settled.
So the effect works temporary only on that day that time and the rest of it is back tot the bull run, the market is restored by now even higher than before.
So no specific effect. Only a shock therapy.
Lets continue to talk about bullish stuff.

[Ayiranorea]

If the election is won by Trump, people relate the growth happening with bitcoin to the win of Trump. Now with the winning of Biden the same is being related with his win. Now people are in search of his previous speeches to find whether he is supportive to the usage of cryptocurrency or he's against it. With this we can see some market manipulation, but this time nothing happened and the growth continues.

[Fundamentals Of]

For now, Biden has put the fight against the pandemic in the first place, and I am sure that there are many more important things he will dedicate himself to in the first year of his mandate.

That's so true. And that is the reason why we should not try to attach a dumping market with Biden's win. The last thing this new administration will be getting themselves busy with is the tighter regulation of Bitcoin and crypto.

Who knows in the future though? But for now there are more urgent matters they can't wait to put their hands on. There is the pandemic first and foremost, and there is the strained international relations, among others.

There is some connection between each and everything, new president elected for USA which is not only going to change the affect of USA but the whole world is somewhat connected with the USA for some reasons so there was an instant reaction when the news was announced but after that everything going well.

I'm not ruling out the possible connections. Just like you said, there's some connection between each and everything, just like the movements and positions of the stars, Biden's win, Bitcoin's price, a shitcoin's death, etc. 

When Biden was announced the winner, there was a price correction and then a lot were saying that was the effect of Biden winning the presidential race. But just hours after that, the price was again rising. I could not understand how that was all connected to Biden's win.

[redsun114]

Trump fans really wanted to find a way to say that Biden caused something bad and wanted to attract us to their side by showing how bitcoin went down. As soon as Bidens win is guaranteed, bitcoin started to grow over 16k for the first time in many years, but that doesn't really mean anything good or bad about Biden nor Trump because crypto is global and not just American.

Definitely Americans have this feeling that everyone loves or hates them and they are number one priority in the world but honestly we care about your sports and Hollywood and not really about your everyday life and investments. Which of course means that we are going to not care about who is your president and act accordingly when we are making crypto related moves as well since they are unrelated two different topics.

[Findingnemo]

For now, Biden has put the fight against the pandemic in the first place, and I am sure that there are many more important things he will dedicate himself to in the first year of his mandate.

That's so true. And that is the reason why we should not try to attach a dumping market with Biden's win. The last thing this new administration will be getting themselves busy with is the tighter regulation of Bitcoin and crypto.

Who knows in the future though? But for now there are more urgent matters they can't wait to put their hands on. There is the pandemic first and foremost, and there is the strained international relations, among others.

There is some connection between each and everything, new president elected for USA which is not only going to change the affect of USA but the whole world is somewhat connected with the USA for some reasons so there was an instant reaction when the news was announced but after that everything going well.

I'm not ruling out the possible connections. Just like you said, there's some connection between each and everything, just like the movements and positions of the stars, Biden's win, Bitcoin's price, a shitcoin's death, etc. 

When Biden was announced the winner, there was a price correction and then a lot were saying that was the effect of Biden winning the presidential race. But just hours after that, the price was again rising. I could not understand how that was all connected to Biden's win.

If you read the entire discussion in this thread then you might realized that I mentioned about Biden's win is not affecting the price of crypto currencies in negative way and also I don't agree that it was mere coincidence of price correction when he won in Penny state so it was just the initial reaction from some investors and that's it.

[Febo]

I think more important for Bitcoin is who will have senate and congress than who will be president. Ideal would be if one group have senate and other group have congress. That way not many changes can be made and in that environment Bitcoin will flourish most. It would be good also if Trump would stay as a republican candidate fro 2024 elections. But I think there is tiny chance for that.

[smyslov]

It would be good also if Trump would stay as a republican candidate fro 2024 elections. But I think there is tiny chance for that.

It depends on how Trump concede and accept his defeat, right now the whole world sees him acting like a dictator who think that he is entitle to become President even if the votes show him losing, the Republican do not lack people of good reputation they can manage in 2024, the worst situation is fielding another candidate with low quality just like Trump.

[peter0425]

Do you see that guys, the price of cryptocurrencies are in red since Joe Biden crosses the required number of place to become president?

Almost every crypto is in red at the hourly candle and what's your opinion with the dump caused especially after such news?

Lol just day after you post this Bitcoin break $16,000 so i think the correlation of Biden's Winning is good for crypto since Trump is a Bitcoin hater lol.

If the election is won by Trump, people relate the growth happening with bitcoin to the win of Trump.

Lol how would this be when Trump never support Crypto?

Now with the winning of Biden the same is being related with his win. Now people are in search of his previous speeches to find whether he is supportive to the usage of cryptocurrency or he's against it. With this we can see some market manipulation, but this time nothing happened and the growth continues.

Actually everything will be in place once Biden bring His Platform and what is his stand over crypto specially Bitcoin.

[Saisher]

Actually everything will be in place once Biden bring His Platform and what is his stand over crypto specially Bitcoin.

During the course of the campaign or any of Biden speech he never mentions anything about Cryptocurrency, I don't know if there's any that are not publicized, but anyway we will know after he sits as president of the United States, this is unavoidable they should have a policy on this, it will be a big help and a big boost if his administration openly supports Cryptocurrency, and adoption will be easy, as we have the powerful country supporting. 

[bitgolden]

We can't really make a case for any candidate or any president in a global world.
During Trump period we have seen as low as $1k dollar bitcoin and we have seen $20k bitcoin and we have seen $20k going down to $4k as well.

So, we can't say trump is like this or trump is like that when it comes to crypto prices at all because we have seen both very highs and very lows during the same presidency and it doesn't mean he affects it one way or another, it is irrelevant.

Same goes for Biden, he is not even president yet, he will be in January I think, and we have seen ups right now regarding him, but we have seen it go down when it became almost official as well, and in the next 4 years I guarantee we will see new highs but we will see a lot of lows as well, presidents do not have the impact you think they have.

[Fortify]

I'm a bit confused about the "market dump" that you speak about, because bitcoin has been going up and down randomly - but is still up compared to the weeks before the election. I don't think either candidate winning had much effect on the price of bitcoin, a large part of the volatility recently has been how close the vote has come and the fact it took almost a week before the votes were fully counted. Either candidate is going to be pro-business and it's unlikely that Biden will want to rock the economy right now by taking any drastic actions, such as cracking down on cryptocurrencies when large companies are just starting to find it attractive.