American election is nothing to do with BTC

[mindrust]

Max Keiser said that Biden's win will push Bitcoin to a new ATH. This is an interesting idea that I don't completely agree with, but it will be interesting to watch how it develops in the following months. Chances of ATH hitting before Christmas are slim, but bitcoin likes to do the unexpected. A few months back most people thought we won't even break 14k this year. You can find the predictions in speculation to see that people were moderately bearish and now everything has changed in a week.

I don't see the reasoning.

Why would bitcoin go up with Biden's win? Is it because Biden will ruin the country&economy completely or is it the opposite? (restore the economy etc)

There was going to be a massive QE because of Covid19 anyway and I fail to understand where Biden is in this scenario.

[mezzaluna]

One of the famous analyst say American election is nothing to do with BTC. Well that's the spirit I would say as top rated crypto currency may not be impacted whoever wins the American election, also he says the value may go up till the end of the year. Is BTC still giving opportunity for investment? What's your thought guys.

https://www.businessinsider.in/stock-market/news/bitcoin-doesnt-care-who-wins-the-us-election-it-will-rise-in-value-regardless-of-the-outcome-a-cryptocurrency-fund-chief-says/articleshow/78968900.cms

But the Article is quite true since most candidates are not even knowledgeable regarding Cryptocurrencies so the outcome of most elections does not have an impact on most Cryptocurrencies UNLESS a candidate will have available platforms that would promote Cryptocurrencies. Promotion would really affect values of Cryptocurrencies since more users would tend to use it and learn about on how to use it publicly.

[Mahanton]

Max Keiser said that Biden's win will push Bitcoin to a new ATH. This is an interesting idea that I don't completely agree with, but it will be interesting to watch how it develops in the following months. Chances of ATH hitting before Christmas are slim, but bitcoin likes to do the unexpected. A few months back most people thought we won't even break 14k this year. You can find the predictions in speculation to see that people were moderately bearish and now everything has changed in a week.

I don't see the reasoning.

Why would bitcoin go up with Biden's win? Is it because Biden will ruin the country&economy completely or is it the opposite? (restore the economy etc)

There was going to be a massive QE because of Covid19 anyway and I fail to understand where Biden is in this scenario.

I do also have that question in mind on why the heck Biden's win can really affect bitcoins price? Currently we are going up and i dont
really believe that any fundamentals specially into this presidency will really be a reliable news for us to depend in regards to our investment
decisions.

Even lots do tell that it is correlated then i dont really believe at all.It can move independently without being affected from time to time
but somehow if the news do talks about exchange hacks and big scams then thats the time i do saw the possibilities
but not for any other events.

[TIDOVEE]

I was almost wondering how and why winning or loosing the election should have an influence the btc value, I imagined who does btc want the election to favour or should it just be whosoever wins. But I got to understand the position of america in the world power cannot be underemphasized. It is worth world celebration.but I am happy to see the improved values

[oktana]

After the news of Biden's victory in the U.S. elections, Bitcoin became cheaper by more than 1K dollars... It may be a coincidence, but stock markets also had a reaction to this result....
I hope that for Bitcoin it was a correction...

It may be because of the uncertainty. Biden might have won the elections and it looks as if Democrats will have a comfortable majority at the House. But the senate majority is likely to remain with the Republicans. This can create problems for Biden, once he is sworn in. In case the senate doesn't allow Biden to function properly, then we can have an impasse, which may affect the economy in a negative way.

Is the world economy the same as the crypto economy?

If really this election had/has an impact on the price of bitcoin, can anyone explain why the price seem to have gone back to where it was?

[coolcoinz]

Max Keiser said that Biden's win will push Bitcoin to a new ATH. This is an interesting idea that I don't completely agree with, but it will be interesting to watch how it develops in the following months. Chances of ATH hitting before Christmas are slim, but bitcoin likes to do the unexpected. A few months back most people thought we won't even break 14k this year. You can find the predictions in speculation to see that people were moderately bearish and now everything has changed in a week.

I don't see the reasoning.

Why would bitcoin go up with Biden's win? Is it because Biden will ruin the country&economy completely or is it the opposite? (restore the economy etc)

There was going to be a massive QE because of Covid19 anyway and I fail to understand where Biden is in this scenario.

It's their reasoning not mine, but according to them, Biden is going to be better for cryptocurrencies than Trump because of 2 main reasons. The first one being that Trump was openly negative and said some bad things about Bitcoin. The second is that Biden is going to be much worse for the rich than Trump, so they'll look for ways to move some capital offshore, possibly through Bitcoin.

[mindrust]

It's their reasoning not mine, but according to them, Biden is going to be better for cryptocurrencies than Trump because of 2 main reasons. The first one being that Trump was openly negative and said some bad things about Bitcoin. The second is that Biden is going to be much worse for the rich than Trump, so they'll look for ways to move some capital offshore, possibly through Bitcoin.

So Biden is indeed going to raise taxes. Such a bad time to live in America as a rich guy. Some people may decide to store their wealth in Bitcoin but they are likely to use banks while doing so. It is not impossible to get all those coins OTC but close. I don't think trying to dodge taxes is going to be that easy. Buying bitcoin don't make you tax-free automatically.

For your other point, Trump wasn't all that negative about bitcoin imo. Maybe just because he warned people about it he looked like that a little bit but I don't see any harm there. Bitcoin is indeed dangerous. One missclick and boom. All gone. Do we know what do Biden think about crypto? I haven't heard anything from him yet.

So,  those 2 points don't make the picture whole for me.

[Yatsan]

The American elections that have recently happened on which Biden have won the election as the new president of the USA, has really nothing to do with Bitcoin. No such events that the pricing of Bitcoin have been dependent with. The price of it is always have been independent into any event. There is such events or happenings in the world that have an impact on the price of Bitcoin such as the world economic crisis brought by the pandemic which at first investors have come into panic which have been fixed after 2 weeks or a month. Such events have been influential on the price of Bitcoin but it does not certainly mean that such events will make Bitcoin to be dependent on such like the national election of the USA. Maybe because of the presence of the institutional investors, there is a movement for such individuals have influence on the price of Bitcoin.

[sayaya17]

American presidential election has nothing to do with BTC. But there is also an opinion that it relates the election, to the fall in BTC prices last night.
But BTC prices soon recovered again. But sometimes, America affects the prices of world commodities such as stocks, oil, and one of them crypto asset
especially now that American economic uncertainty is weakening its own currency, which this year is down 10%.
The decline has supported rising prices of other alternative assets, such as gold and bitcoin. Now Bitcoin is getting stronger at $15,499 based on CMC today’s data.
But from since in the last six months, the bitcoin market has tripled.

[kawetsriyanto]

Saying that the president of the worlds strongest country has no effect on anything is a bit dumb imo.

You cannot judge people who stated it as dumb!! Everyone has their own opinion, you don't need to bother it. We are here free to express it based on our own view. Even you stated US as the world's strongest country can be debatable. On what field you claim it? Even the US declared it, it doesn't mean it is true. Do you understand my point? lol

Except, if you have data from a valid source that can show the effects of the American Election to BTC.
Share it here, and we will look at the truth. But it is better to have some sources, not only a single source that claims as to the best one.  

[asus09]

Surprisingly, Joe Bidden was finally able to beat Donald Trump in the election of the presidential candidate for the United States. Will Joe Bidden's reign provide an opportunity for bitcoin to become a legal virtual currency in the United States? During this time, when Donald Trump became president of the United States, he never provided a gap for bitcoin to become a legal transaction tool in the United States.
The waiting is still unclear how Joe Bidden's decision later when he served as the number one person in the United States, will he give freedom to bitcoin currency or not.

[bbc.reporter]

Max Keiser said that Biden's win will push Bitcoin to a new ATH. This is an interesting idea that I don't completely agree with, but it will be interesting to watch how it develops in the following months. Chances of ATH hitting before Christmas are slim, but bitcoin likes to do the unexpected. A few months back most people thought we won't even break 14k this year. You can find the predictions in speculation to see that people were moderately bearish and now everything has changed in a week.

Max Keisler will tell you anything to hype and hope his hype will pump bitcoin.

Putting bitoin speculation aside. What 2020 and the election in America has really shown is a country of demoralized people.

https://twitter.com/davereaboi/status/1325138477864914944?s=12

[gelimo]

Thank You........

[bryant.coleman]

It may be because of the uncertainty. Biden might have won the elections and it looks as if Democrats will have a comfortable majority at the House. But the senate majority is likely to remain with the Republicans. This can create problems for Biden, once he is sworn in. In case the senate doesn't allow Biden to function properly, then we can have an impasse, which may affect the economy in a negative way.

Is the world economy the same as the crypto economy?
If really this election had/has an impact on the price of bitcoin, can anyone explain why the price seem to have gone back to where it was?

Global economy is not the same as crypto economy, but from what I have seen, there is a strong link between the two. When people have excess cash or savings, they will be more open to investing in risky assets such as cryptocurrency. When that is not the case, they will prefer assets which are less prone to risk, such as bank deposits and treasury bonds.

[peter0425]

One of the famous analyst say American election is nothing to do with BTC. Well that's the spirit I would say as top rated crypto currency may not be impacted whoever wins the American election, also he says the value may go up till the end of the year. Is BTC still giving opportunity for investment? What's your thought guys.

https://www.businessinsider.in/stock-market/news/bitcoin-doesnt-care-who-wins-the-us-election-it-will-rise-in-value-regardless-of-the-outcome-a-cryptocurrency-fund-chief-says/articleshow/78968900.cms

Of course there is in a way but of course not permanent effect,people now are waiting for what is Biden's government dealing with crypto.
And investors find this a good threat then for sure Moon will comes soon and the much awaited Bull is happening again.
But if the things comes other side then we may see another BS year for crypto from this to the next.

[adzino]

The election is going to have some impact on the price of bitcoin. With the economy recovering under Biden administration, we will be seeing the price of US dollar rising. It has never been this low compared to past few years before trump administration! Also, Trump delayed the stimulus package and was supposed to be distributed after the election. With Biden presidency, we are expecting to receive it anytime soon (trump has yet to concede though). The stimulus might encourage people to invest more in bitcoin.
Also we are expecting the stocks to start rallying and bitcoin might also start doing the same.

[farrellronald]

since BTC is a currency it is impossible that such an event has nothing to do with the price of BTC. if bitcoin had nothing to do with the election maybe you should remember what happened in 2016 about the prices of bitcoin and the volatiles of the actual price.
and i think yes, it is still worth the investment but you have to be willing to take the risk

[Alexmagn84]

At the point when individuals around the globe got jobless in the wake of being caught in Lock-Down, Bitcoin opened the entryway of speculation for them. In the event that there is one thing that can give sway on political decision, it ought to be the blockchain innovation and not BTC explicitly. In spite of the fact that this sort of conversation will never end, I'm that this kind of subject will be made again once BTC arrive at another achievement which is the 15k imprint cost.

[oktana]

Global economy is not the same as crypto economy, but from what I have seen, there is a strong link between the two. When people have excess cash or savings, they will be more open to investing in risky assets such as cryptocurrency. When that is not the case, they will prefer assets which are less prone to risk, such as bank deposits and treasury bonds.

I'd agree with that . But how can the election/winning of Joe Biden affect the economy? BTW, if the highest bitcoin investors weren't from the US, I don't think the economy would matter. It's just that there's a greater percent of hodlers there.

[Mr.sprin]

The American elections are over and the winner is Joe Biden and the price of bitcoin has not changed drastically (down or up).
So is it true that the Election influenced or had something to do with BTC? the answer is definitely no.