Fear, uncertainty and doubt are the worst enemies of cryptocurrency investors. What is worse is the months of uncertainty that can change the course of history. It’s about the US election …
Crisis and BTC
Our world was surprised by a black swan in the form of a pandemic. This destroyed the economy, broke supply chains and led to the biggest crisis in 90 years.
As a result, the chart gains gold. Theoretically, the same should happen for BTC. After all, the supply of cryptocurrency is also limited. The only difference is that the ore is a “barbaric metal” in which humanity has trusted for millennia, and Bitcoin has been around for a decade.
Despite the latter, the price of cryptocurrency is rising. Top altcoins also gain with it. Is this, however, a prelude to the new bubble? Or maybe soon other events will bring us back to the inheritance?
In autumn 2020, presidential elections are to be held in the US. Although the United States is no longer the same power as it was decades ago, whoever governs it still has colossal significance for the fate of the world. Uncertainty about who will become US president may therefore hit the BTC.
If Trump wins the election, we can count on continuing the chosen course. The Fed may even introduce negative interest rates, we are probably ahead of further printing of the dollar and a new stage of the trade war with China. Surprisingly, the current president, despite his seemingly impetuous nature, conducts a fairly peaceful international policy (apart from his shouting and “straining” on Twitter).
If Joe Biden wins the election … Well, we don’t know exactly what to expect.
Extreme volatility in traditional stock or oil markets can also affect the cryptocurrency space. It is therefore possible that we will wait for big price jumps until the announcement of US election results.
Looking at how the previous election in the US influenced the Bitcoin course, it can be seen that there was a breakthrough and a significant bull market. However, before the election, the cryptocurrency was below the resistance line …
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