Cryptocurrency: US Election 2020

[Jaered]

 In about 3 weeks time, the world would stand still for the election of arguably the greatest Contemporary nation on earth, the United States. Contestant Joe Biden and incumbent Donald Trump, representing the Democratic and Republican crowds respectively, would lock horns.
 This election has some serious technological and financial implications all over the world. Predictions have been rife with many thinking the dollar would tank hours just before the elections and jump if Biden wins. My focus is on assets like bitcoin and other crypto. Methinks bitcoin would take a moon hike as uncertain investors jump on assets not tied to any government influence(mostly, though we know there is some government effects).According to  Nigel Green,  CEO one of the world’s leading independent financial advisory organisations DeVere,  U.S. election will boost the price of bitcoin. “Bitcoin is already one of the best-performing assets of the year, up around 70% year-to-date,” And “We can expect the world’s largest cryptocurrency to be further fuelled for the rest of 2020 by the U.S. presidential election and the weakness of the U.S. dollar, which will serve as high-octane price drivers.”
I may be wrong but I want to know your views. What do you think?

[BrewMaster]

the world would stand still for the election of arguably the greatest Contemporary nation on earth, the United States.

exaggerate much

Predictions have been rife with many thinking the dollar would tank hours just before the elections and jump if Biden wins.

this has mostly been advertisement for different parties. each side says if they win dollar will jump and if the opposition wins the world ends

My focus is on assets like bitcoin and other crypto. Methinks bitcoin would take a moon hike as uncertain investors jump on assets not tied to any government influence(mostly, though we know there is some government effects).

bitcoin has shown that it is not affected by these things and it has proven many times that it is not even following different markets. lately people have been linking it to gold but gold has been tanking specially today while bitcoin rises. same with stock market.
election will be the same.

[Jaered]

Well, considering Trump has a particular anti-crypto stance, I think a Biden win would be a head-up for cryptocurrency

[avikz]

the world would stand still for the election of arguably the greatest Contemporary nation on earth, the United States.

Lol! I am not sure why Americans always claims they are the greatest nation on earth! That's kind of funny as it seems like Americans try to reassure themselves by saying this!

According to  Nigel Green,  CEO one of the world’s leading independent financial advisory organisations DeVere,  U.S. election will boost the price of bitcoin. “Bitcoin is already one of the best-performing assets of the year, up around 70% year-to-date,” And “We can expect the world’s largest cryptocurrency to be further fuelled for the rest of 2020 by the U.S. presidential election and the weakness of the U.S. dollar, which will serve as high-octane price drivers.”

I don't see that happening! A good percentage of American still believe that Trump's hatemongering will make their nation great again. So if Trump wins, mostly educated class people might want to jump into alternative assets like crypto or Gold or Silver just for capital protection. In that case, we may see some additional liquidity in the market which may drive the price higher. But if Joe Biden wins, Americans will hope that he will bring reformations to take the economy back on track. In that case, these additional liquidity may not flow into the crypto market. But whatever happens, it will be miniscule compared to the size of cryptocurrency market which is most unlikely to make a lasting impact.

[gantez]

My view is that the USdollar will be highly volatile during the time of election. Around two days to it, it is expected that the currency will have difference because of fear by traders who can't predict the direction of market. This same can be expected with bitcoin because of the influence of dollar in global market. Most trade revolves around the usdollar and bitcoin.

[DeathAngel]

I think we’ll see a pump after the election. There’s lots of uncertainty in a lot of things in the world atm, I think Trump will win & then we have a settled leader. I think we’ll reach yearly highs in December.

[Intrepidity]

the world would stand still for the election of arguably the greatest Contemporary nation on earth, the United States.

Lol! I am not sure why Americans always claims they are the greatest nation on earth! That's kind of funny as it seems like Americans try to reassure themselves by saying this!

According to  Nigel Green,  CEO one of the world’s leading independent financial advisory organisations DeVere,  U.S. election will boost the price of bitcoin. “Bitcoin is already one of the best-performing assets of the year, up around 70% year-to-date,” And “We can expect the world’s largest cryptocurrency to be further fuelled for the rest of 2020 by the U.S. presidential election and the weakness of the U.S. dollar, which will serve as high-octane price drivers.”

Well probably reason is, because it is, people from allover the world want to go to America.
People from all the world, send the American company's billions of dollars each week (Apple, Amazon, Google, Facebook and many more)

[Jaered]

I think we’ll see a pump after the election. There’s lots of uncertainty in a lot of things in the world atm, I think Trump will win & then we have a settled leader. I think we’ll reach yearly highs in December.

Why do you think so? Remember Trump has an anti-crypto stance, and is not going to change anytime soon. Not on his second tenure

[Jaered]

the world would stand still for the election of arguably the greatest Contemporary nation on earth, the United States.

Lol! I am not sure why Americans always claims they are the greatest nation on earth! That's kind of funny as it seems like Americans try to reassure themselves by saying this!

According to  Nigel Green,  CEO one of the world’s leading independent financial advisory organisations DeVere,  U.S. election will boost the price of bitcoin. “Bitcoin is already one of the best-performing assets of the year, up around 70% year-to-date,” And “We can expect the world’s largest cryptocurrency to be further fuelled for the rest of 2020 by the U.S. presidential election and the weakness of the U.S. dollar, which will serve as high-octane price drivers.”

Well probably reason is, because it is, people from allover the world want to go to America.
People from all the world, send the American company's billions of dollars each week (Apple, Amazon, Google, Facebook and many more)

Yeah. American corporation giants reap billions from other parts of the world. That's the issue. But the debate is the effects of its leadership on crypto

[pooya87]

Why do you think so? Remember Trump has an anti-crypto stance, and is not going to change anytime soon. Not on his second tenure

you haven't seen a real "anti-crypto stance" yet to know what it really is. otherwise governments not liking bitcoin and wanting to force more regulations, restrictions, taxation and most of all invasion of privacy is not new specially for US government no matter who is in the oval office. and that's not just bitcoin or cryptocurrency related they want full control on everything and want their hands in people's pockets again no matter who the POTUS is.

[Jaered]

Why do you think so? Remember Trump has an anti-crypto stance, and is not going to change anytime soon. Not on his second tenure

you haven't seen a real "anti-crypto stance" yet to know what it really is. otherwise governments not liking bitcoin and wanting to force more regulations, restrictions, taxation and most of all invasion of privacy is not new specially for US government no matter who is in the oval office. and that's not just bitcoin or cryptocurrency related they want full control on everything and want their hands in people's pockets again no matter who the POTUS is.

You may have a point, but remember some countries are more crypto friendly than others. Does it mean those governments are less greedy?

[avikz]

Well probably reason is, because it is, people from allover the world want to go to America.
People from all the world, send the American company's billions of dollars each week (Apple, Amazon, Google, Facebook and many more)

Lol! Who said that? USA is one of the most dangerous countries for the foreigners considering the number of crimes happening there every single day! People want to flock to US just because of money but not for peace most certainly! That doesn't make them the greatest country on earth. 

Are you aware of the "Global Peace Index 2020"? You can get it from the below link,

http://visionofhumanity.org/app/uploads/2020/06/GPI_2020_web.pdf

As per this index, United States of America stands at 121 in Global Peace Index. There are hell lot of African countries that are way ahead of USA in peace index. In money becomes everything for you, you can stay even in the most hostile territory of the world. But if you want to have a great life, USA shouldn't come within the consideration.

Apologies for deviating from the main topic, but I thought it is necessary to reply!

[pooya87]

Why do you think so? Remember Trump has an anti-crypto stance, and is not going to change anytime soon. Not on his second tenure

you haven't seen a real "anti-crypto stance" yet to know what it really is. otherwise governments not liking bitcoin and wanting to force more regulations, restrictions, taxation and most of all invasion of privacy is not new specially for US government no matter who is in the oval office. and that's not just bitcoin or cryptocurrency related they want full control on everything and want their hands in people's pockets again no matter who the POTUS is.

You may have a point, but remember some countries are more crypto friendly than others. Does it mean those governments are less greedy?

it is not about greed per se, it is mostly about having intrusive laws and wanting more power and control verging on being a dictatorship. usually level of corruption in government, wealthy elite controlling the country and specifically the banking system plays an important role in what the country's stance is towards bitcoin.
for example almost all the negativity we see coming from US is coming from their banking system, the same corrupted banking system that crashed the economy back in 2008 right before bitcoin was created. the same corrupted banking system that is regularly caught laundering money and has a hand in drug trafficking and lots of other illegal activities! and that's not going to change with changing president.

[slaman29]

Nice to get Bitcoin get bumped up with a lot of dollars but maybe it's time to start denominating BTC in another currency like maybe Swiss franc or Euro?

I mean what's the point of USD price going up if USD is getting weaker and weaker right?

[Bitcoin_bullish]

Nice to get Bitcoin get bumped up with a lot of dollars but maybe it's time to start denominating BTC in another currency like maybe Swiss franc or Euro?

I mean what's the point of USD price going up if USD is getting weaker and weaker right?

It seems that all fiat are getting weaker and weaker. There is the EURUSD pair and the dollar was weakened lately to the euro but this doesn't mean that Bitcoin's price wasn't up in EUR. All fiat are weakingin with time because of inflation. They can last a hundred years or two hundred years but eventually they fall and monetary reassesment is required.
Price has been going up in EUR and in all national currencies. The dollar hasn't collapsed, at least not yet, and euro policies has been more strict.

[Jaered]

Well probably reason is, because it is, people from allover the world want to go to America.
People from all the world, send the American company's billions of dollars each week (Apple, Amazon, Google, Facebook and many more)

Lol! Who said that? USA is one of the most dangerous countries for the foreigners considering the number of crimes happening there every single day! People want to flock to US just because of money but not for peace most certainly! That doesn't make them the greatest country on earth. 

Are you aware of the "Global Peace Index 2020"? You can get it from the below link,

http://visionofhumanity.org/app/uploads/2020/06/GPI_2020_web.pdf

As per this index, United States of America stands at 121 in Global Peace Index. There are hell lot of African countries that are way ahead of USA in peace index. In money becomes everything for you, you can stay even in the most hostile territory of the world. But if you want to have a great life, USA shouldn't come within the consideration.

Apologies for deviating from the main topic, but I thought it is necessary to reply!

Remember we aint talking about the most peaceful countries. I talked about one of the greatest nations
Anh oh, you deviated a mile off. Thanks for your contribution anyway

[Jaered]

Why do you think so? Remember Trump has an anti-crypto stance, and is not going to change anytime soon. Not on his second tenure

you haven't seen a real "anti-crypto stance" yet to know what it really is. otherwise governments not liking bitcoin and wanting to force more regulations, restrictions, taxation and most of all invasion of privacy is not new specially for US government no matter who is in the oval office. and that's not just bitcoin or cryptocurrency related they want full control on everything and want their hands in people's pockets again no matter who the POTUS is.

You may have a point, but remember some countries are more crypto friendly than others. Does it mean those governments are less greedy?

it is not about greed per se, it is mostly about having intrusive laws and wanting more power and control verging on being a dictatorship. usually level of corruption in government, wealthy elite controlling the country and specifically the banking system plays an important role in what the country's stance is towards bitcoin.
for example almost all the negativity we see coming from US is coming from their banking system, the same corrupted banking system that crashed the economy back in 2008 right before bitcoin was created. the same corrupted banking system that is regularly caught laundering money and has a hand in drug trafficking and lots of other illegal activities! and that's not going to change with changing president.

I don't know about the American banking system and its criminal records. And I definitely don't know much about illegal activities. However governments everywhere retain a certain level of antagonism towards bitcoin, which is understandable

[batang_bitcoin]

Nice to get Bitcoin get bumped up with a lot of dollars but maybe it's time to start denominating BTC in another currency like maybe Swiss franc or Euro?

I mean what's the point of USD price going up if USD is getting weaker and weaker right?

AFAIK, Chinese Yuan is the strongest these times. But how would that happen, there's a consensus that it's already been set for USD/BTC. In some exchanges, this isn't a problem. But pushing bitcoin to be denominated in another currency, that would be the least that I'm thinking. Although, it's a fact that you have stated that USD is getting weaker. However, we'll gonna see it recover maybe after the elections or when this pandemic ends.

[kryptqnick]

In about 3 weeks time, the world would stand still for the election of arguably the greatest Contemporary nation on earth, the United States. Contestant Joe Biden and incumbent Donald Trump, representing the Democratic and Republican crowds respectively, would lock horns.
 This election has some serious technological and financial implications all over the world. Predictions have been rife with many thinking the dollar would tank hours just before the elections and jump if Biden wins. My focus is on assets like bitcoin and other crypto. Methinks bitcoin would take a moon hike as uncertain investors jump on assets not tied to any government influence(mostly, though we know there is some government effects).According to  Nigel Green,  CEO one of the world’s leading independent financial advisory organisations DeVere,  U.S. election will boost the price of bitcoin. “Bitcoin is already one of the best-performing assets of the year, up around 70% year-to-date,” And “We can expect the world’s largest cryptocurrency to be further fuelled for the rest of 2020 by the U.S. presidential election and the weakness of the U.S. dollar, which will serve as high-octane price drivers.”
I may be wrong but I want to know your views. What do you think?

I don't think these effects can be reasonably predicted. Firstly, I don't see how the elections are going to trigger the dollar's devaluation. I mean, there were already some risky decisions made in 2020, and the expenses related to the elections won't all magically add up to make an impact specifically on the election day. Moreover, those voting for Trump are probably okay with what's currently going on, while those voting for Biden have hopes for the better future, so I don't think much FUD will come into play.
Finally, even if USD goes down, there is no way of knowing how BTC price will behave. It might go up as you said, but it can also go down because we usually evaluate BTC price in USD, so BTC might follow USD.

[ekeh]

The up coming election in USA is normally affect the world in economy, either in negative or positive way of the market price, which we are focusing on the cryptocurrency, is not control by any government, because cryptocurrency is a decentralized currency. Which can not be predicted at fixed amount price.