The 2020 U. S. election set the way for its participation in a century, with campaigns and nominees dominating the headlines.
The value of bitcoin skyrocketed in the run-up to the election, adding a huge 30% through October and getting credit for a series of positive news stories to succeed in unticed highs since early 2018.
Now, as Democratic challenger Joe Biden discovers an advantage forged in national polls over current Donald Trump, bitcoin investors and investors are, as applicants enter, on the last day of the campaign, with global markets already at the forefront.
Last week, the Dow Jones Industrial Average closed its worst week and month since the fall of the coronavirus in March, as Republicans and Democrats were ready for the last circular of the presidential race.
Bitcoin, meanwhile, has damaged its long-standing control in stock markets, adding five in more than seven days and fueling a wave of bullish sentiment among Bitcoin investors that has not been felt since Bitcoin’s historic bullish race in 2017, and seems unwavering. regardless of this week’s final results.
“A Trump victory will be welcomed through players in the inventory and bitcoin market will continue to grow with other assets,” said Anatoliy Knyazev, executive director of broker Exante, via email. “However, a win by Biden, which can lead to a crash inventory market, can also play in favor of Bitcoin depending on the expectation of dollar depreciation. “
The cryptocurrency of Bitcoin investors is an emerging safe haven asset, with the value of bitcoin potentially emerging with gold in times of greatest uncertainty and risk.
“Markets hate uncertainty, so in the event of a disputed outcome, shelter assets will be encouraged, especially non-sovereign categories such as gold and bitcoin,” Said Nigel Green, executive leader of the DeVere group, via email.
If there is a contested election, stocks could fall by up to 20%, Bank of America economists warned last week.
“[Investors] only need to meet one winner,” Jeff Dorman, the leading investment director of the Arca cryptocurrency hedge fund, told Business Insider in an interview. Dorman believes Biden’s victory would mean an unprecedented point of public spending that would be greater for Bitcoin. and I pray that four more years of Trump.
“I would say democrats are better at inflation-opposing hedges, however, as long as there is a transparent winner at some point, everything will go higher,” he added.
Other more radical elements of the bitcoin and cryptocurrency network are also that a Biden victory will mean that bitcoin could jump higher this week.
The opposite Max Keizer, a Wall Street veteran, a long-term advocate for bitcoin and host of RT’s The Keizer report, predicted that the value of bitcoin will “increase” in a victory in Biden, stoking unfounded fears that a Biden administration will confiscate “everything. “. “
However, Keizer is also positive for the value of bitcoin in case of astonishment in a Trump poll.
“With Trump, the U. S. has the ability to make a more orderly transition to bitcoin so that value goes up more slowly,” Keizer said in an interview with Cointelegraph.
No matter who takes the White House this week, the network of bitcoins and cryptocurrencies is convinced that it has already subsidized the real winner.
I am a journalist with significant experience in the fields of technology, finance, economics and business around the world. As founding editor of Verdict. co. uk, I pointed out that