Trump gets Covid and we Crash?

[LogitechMouse]

The price of BTC is inextricably tied to the stock market because of the institutional investors that hold and trade a lot of bitcoin. As bitcoin is considered to be the highest risk asset by Wall Street, it tends to get sold off first any time there is a bit of panic or uncertainty in the market. This time around the uncertainty is due to Trump's unexpected diagnosis.

Both the price of BTC and stock market are somewhat correlated so if the stock market goes down then so is Bitcoin.
Include also the fact that Bitmex has charges right which also affects the crypto market as a whole.

Many didn't expect for the US president and his wife being tested positive for the virus so the market right now is kinda uncertain. I also saw a tweet saying that "Cash is King" although I can't share the link here. There must be something that will happen in the next few weeks :X.

[3meek]

The price of BTC is inextricably tied to the stock market because of the institutional investors that hold and trade a lot of bitcoin. As bitcoin is considered to be the highest risk asset by Wall Street, it tends to get sold off first any time there is a bit of panic or uncertainty in the market. This time around the uncertainty is due to Trump's unexpected diagnosis.

Both the price of BTC and stock market are somewhat correlated so if the stock market goes down then so is Bitcoin.
Include also the fact that Bitmex has charges right which also affects the crypto market as a whole.

Many didn't expect for the US president and his wife being tested positive for the virus so the market right now is kinda uncertain. I also saw a tweet saying that "Cash is King" although I can't share the link here. There must be something that will happen in the next few weeks :X.

Bitcoin has been following the stock market lately because many institutional investors have this asset... But I hope that one day they will be punished and the price of Bitcoin will go against Wallstreet!

As for Trump, this is either another manipulation and attraction of attention, or nothing terrible will happen to him!

[pokeronlinestatus]

Like holy hell what a ride the past day has been with the bitmex stuff and now the POTUS getting covid with the first lady (they say) Everything is taking a dump.


Buy the dips though.

Wow, I was surprised when I saw this topic, even had to head to Google and do research to know whether it’s true or not. This is very bad man, and not just only him, his wife also has the virus. This is going to have an effect on the US economy for sure, and things will go down.

Although the economy is not something that we should be worried about; the most important thing here is his health, we are all aware that Trump is not a young man, he’s already above seventies, and Coronavirus is always critical in those who are old. I hope that he recovers from it.

[Zemomtum]

I have looking for an enlightenment on how Trump Covid situation is affecting the crypto market and making it to have a sharp crash.

[meanwords]

I have looking for an enlightenment on how Trump Covid situation is affecting the crypto market and making it to have a sharp crash.

I don't know too. As far as I can see, if people like this one in the article "https://markets.businessinsider.com/news/stocks/stock-market-trump-coronavirus-positive-investment-chief-hedging-volatility-strategy-2020-10-1029644348#" starts spreading FUD to crash the stock market, it might be a possibility that investors will transition to invest in cryptocurrency.

But it's still funny because one trivial matter and people starts spreading FUD, HYPE, FOMO to manipulate the market and in order for people like Mcdonald to fool the masses and enhance his portfolio profits.

[rodskee]

Like holy hell what a ride the past day has been with the bitmex stuff and now the POTUS getting covid with the first lady (they say) Everything is taking a dump.


Buy the dips though.

Then this sounds good for me?(not because people are getting covid because i hate this virus also) but the idea of the price is dumping continues.
i may have use my Budget for another altcoin to Buy Bitcoin or ethereum again.
i have waiting this for quite sometimes after missing the Hard dump last March so now i will not let this pass me again.
i will surely purchase once the price of Bitcoin fell down to 7k level.

[Wawa2013]

I don't think Trump gets COVID-19 the cause of the crypto market crash, because there is no connection between the crypto market
and Trump's health. When it comes to the BitMex case, I believe it has something to do with the decline in cryptocurrency prices.
Why do many people link this, because of the role of the media in spreading FUD. This becomes a misleading thought, but for me
it's not a problem with the cause of the crypto market crash, whether it's because Trump or not. The most important thing is that
the Bitcoin price is still safe not to fall below the $ 10,000 price.

[barto123]

Trump or Biden, doesn't matter - Honey badger don't care.

Maybe there's short-term volatility, but in the long-term Bitcoin will decouple from the stock market - it's completely fake. This money printing disease can't be stopped. People will be forced to exit fiat, to avoid going broke. You want to be in scarce assets, Bitcoin your first priority. Once you realize how little Bitcoin is actually available on the open market for the rest of the world, you want to buy as much as you can. I've noticed rare baseball & pokemon cards are on the rise. Obviously Gold & Silver will go to ridiculous highs too. Gold is in short supply, hoarded by central banks though - basically a manipulated fiat-based asset. Personally i'm not going there. Much easier to store/verify Bitcoin.

Patience.

The price will go vertical soon, you watch.This is just the beginning 2021 is going to be worse for the financial system. I'm not a pessimist, just a realist.

[suzanne5223]

I have looking for an enlightenment on how Trump Covid situation is affecting the crypto market and making it to have a sharp crash.

I don't know too. As far as I can see, if people like this one in the article "https://markets.businessinsider.com/news/stocks/stock-market-trump-coronavirus-positive-investment-chief-hedging-volatility-strategy-2020-10-1029644348#" starts spreading FUD to crash the stock market, it might be a possibility that investors will transition to invest in cryptocurrency.

But it's still funny because one trivial matter and people starts spreading FUD, HYPE, FOMO to manipulate the market and in order for people like Mcdonald to fool the masses and enhance his portfolio profits.

Believe it of not, stock price and Bitcoin somehow correlate but I believe that have to do with Walls Street manipulation. However, the words said in the article was not FUD because Trump does make an impact in the price of the stocks market and once hes sick most stock analysis will presume the price of stock to experience some dump in price.

[Jayrmalakas]

president donald trump is recovered from covid 19 and he will become a negative now and he will come back at the white house so do not be afraid to bitcoin crash because bitcoin did not crash anymore

[acdc]

To this day it seems that the crypto market has not been affected too much by Trump's covid illness. We shouldn't be too worried about this, the President of the United States has a professional medical team to take care of him, I think Trump will soon recover.

[Yamifoud]

president donald trump is recovered from covid 19 and he will become a negative now and he will come back at the white house so do not be afraid to bitcoin crash because bitcoin did not crash anymore

https://news.yahoo.com/trump-covid-19-live-updates-121623379.html

It looks like Trump is okay with his situation now, not for sure if he finally tested negative but the way he talks, I believe he will recover quickly. I'm not sure if he will still insist on the existence of Covid-19.

But this is not the reason why we are worried about the crash sentiments coz it is definitely not, and even any country leaders will be tested negative that does not make sense anymore. The market trend moves freely, whether we like it or not, we can still experience ups and downs scenarios all the time.

[swap2cashcom]

And how are these two events correlated? I don't think that Bitcoin is down because Trump tested positive.

I agree. I think they have nothing to do with each other.

[Ridwan Fauzi]

Before Trump was reported positive, bitcoin price has been sideways in the range of $9800-11.200, As we remember, in the past few weeks the US economy is trying to recover, which we can see that the dollar index ( DXY ) has been increasing slowly, where when the dollar price rises, the bitcoin price will decrease, this is what I've been paying attention to in the last few months. Maybe there is indeed an effect from Trump's positive because we can also see a decline in the stock market, but seem like this will not give a long effect, sooner or later the price of bitcoin will rise again.

[Yatsan]

This topic have already been tackled on one of the threads here in the forum that I have read while roaming around the forum. There might be really a correlation with the market behavior of the market with the current health situation of Trump or just maybe it is a mere coincidence that the two scenario happens all at the same. There might be a relationship in a sense that as a leader of the country, investors got panic due to concern of his health and knowing he is a candidate for presidency that the policies he implemented might get affected once something bad happen to him. But there is nothing to worry about experiencing a crash for as we observe it is just a little declination and all seems to get back to normal for that dump is just a normal thing to happen. There might be an effect on the market but still it will recover in no time.

[kawetsriyanto]

I am not really sure if the positive Covid test of Trump to make Bitcoin price drops or bearish on the crypto market. The Crypto market isn't owned by US government or Bitcoin price never follows US regulations. Moreover, traders or investors come from around the world, not only from the US. So, how can it make impacts on the crypto market? If there is a temporary drop in the market, some people may be playing with the FUDs.

[nutildah]

I am not really sure if the positive Covid test of Trump to make Bitcoin price drops or bearish on the crypto market. The Crypto market isn't owned by US government or Bitcoin price never follows US regulations. Moreover, traders or investors come from around the world, not only from the US. So, how can it make impacts on the crypto market? If there is a temporary drop in the market, some people may be playing with the FUDs.

The stock market sank and then bitcoin along with it. Another example of the price of BTC being tied to the stock market can be found in today's action when Trump announced there won't be a second round of stimulus.

https://cointelegraph.com/news/trump-delays-stimulus-bitcoin-dumps-in-shortly-thereafter

It's not the delay in stimulus that caused BTC to dump per se -- its the fact that Wall Street holds a lot of bitcoin now and bad news causes institutional traders to dump it first as it is their highest risk asset.

I don't get why some people are still fighting the obvious tooth-and-nail. You don't have to believe "America is important" or anything -- you just have to admit there's an increasingly occasional correlation between stock market movement and bitcoin movement.

[BorisXY]

Like holy hell what a ride the past day has been with the bitmex stuff and now the POTUS getting covid with the first lady (they say) Everything is taking a dump.


Buy the dips though.

 Hmm.  The last time I checked, the first Lady was not infected, but how come. I saw the news today and there was nothing like that, all I heard was Donald J Trump only and nothing else.

[Velvet78]

The deterioration of the health condition of the POTUS directly affects the entire economy. Also, we have seen the effects of the sudden rise or fall in dollar prices on bitcoin before. I hope Trump and First Lady will get over this illness soon.

[Bagiira]

Like holy hell what a ride the past day has been with the bitmex stuff and now the POTUS getting covid with the first lady (they say) Everything is taking a dump.


Buy the dips though.

I think bitcoin shouldn't go below $ 10,000. Trump or another politician can only have a short-term impact on Bitcoin , in which billions of dollars are invested.