Election Effects On Bitcoin

A strong correlation between the aforementioned markets has often resulted in a period of.

Election effects on bitcoin. Since the crash at the beginning of september when the price plummeted from usd 12 000 to briefly below usd 10 000 bitcoin has been trading in a price range of usd 10 000 to usd 11 100 and is currently not finding a. What effect will the us election have on bitcoin. In 2012 shortly after bitcoin was first introduced and barack obama won a second presidential term the price of bitcoin remained around 10 90 according to coinmarketcap.

In 2016 when donald trump defied many mainstream expectations to win the presidency the price of btc rose quickly by 3 8 percent possibly based on anxiety about how the mainstream economy would be affected. In view of the uncertainty caused by the us elections in early november the bitcoin price could remain in a range between usd 10 000 and 11 100 for the time being. If we learned anything in 2020 about bitcoin it is that the price is not immune to political events.

The 2020 election may affect the price of bitcoin positively. If it were then bitcoin wouldn t have taken a 30 hit on march 12th with the rest of the markets. Under these circumstances the hash rate of bitcoin is still showing an uptrend so the price of bitcoin will show increases for quite a long time.

Firstly if biden wins the presidency at the. When the result was first confirmed bitcoin shot up by 3 8 from 709 to 736. President donald trump s arrival in 2016 was much more interesting.

If everything concerning the election the results especially go smoothly bitcoin price may not show many actions. As the 2020 u s. If we have a clear winner and an easy.

However it would be foolish to suggest that obama had anything to do with this. Bitcoin is allergic to the us presidential elections and immune to the covid 19 vaccine cryptos sep 24 14 39 gmt the creation of the covid 19 vaccine is unlikely to have a strong negative effect. Given the impact the correlation between stocks and bitcoin has had on the crypto market the decoupling may turn out to be a good sign.