Does the Election Day have anything to do with the way bitcoin price is going up?

[duncun007 3577]

On 11/8/2020 at 5:01 PM, zhoutong said:

Probably didn't have anything to do. Some bitter Trump supporters tried to sell a few yesterday and brought the price down to 14200 and it quickly recovered back to 15200 in no time. It will be not long before the elections are over and Bitcoin once again shown it won these elections too.

i wouldnt say that sell off was due to rump supporters because it was more like market manipulation by whales, but what made bitcoin price go up again is the fact that there is now a possible vaccine for covid.

[Khan 1414]

On 11/4/2020 at 1:35 PM, Zeshan Khalid said:

I have not seen any price rise in Bitcoin with respect to election day. Its price is still fluctuating at the same rate. Elections have nothing to do with crypto business. People will continue to buy and sell BTC at almost same rate.

May be, but the election is purely depend on the elected users and the coin price is something else, because no big whales show their investment in the crypto currency.

[Izeal 4404]

It has affected the price and pumped good amount but I am very happy the price is still consolidating even now and I think we can see good pump because the support is at $14k but I am sure the price will pump more and even touch to all time high.

[Cryptomint 433]

I listened that the Bitcoin price will go down due to the United States of America elections but it did not go down however it goes up.

[Ishtaiq hussain 210]

Election Day bill has nothing to do with justice cryptocurrency .

 .  .  .  .  There will be an election, there will be a comment, that government has made its policy, it may make a difference on about 2. .

.  .  .  .  .  But fake cryptocurrency came with bitcoin has no relation with anyone .Neha sahib does not believe in anything like this .

[basel23 1722]

Perhaps the American elections affected the price of the cryptocurrency, and some news was saying that the new president of the United States will support cryptocurrencies and allow them to be used as a means of payment.

[joemcgwa 3227]

Actually for me I don't see how the elections day can have anything to do with bitcoin, because during the election day bitcoin can have any reasons to be most useful or useless.

[Naseer Ahmad78 721]

I think the price of bitcoin does not depend on the Elections of the United States because a lot of people think that whatever the President's will be selected  of the United States is, it will not affect the cryptocurrency so much.The price of bitcoin is being slightly increasing  if anyone has bitcoin, then sell it.

[Shaza Ahmad 1682]

The presidential election period was very tense for the cryptocurrency market, and everyone was afraid of investing at that stage because the direction of the market is unknown, but after everyone knew the outcome of the elections, the situation changed and the recovery began, I think that the market in every period is looking for political or economic news to be affected Its not more than that.

[Mosab73 333]

In my opinion, economic and financial factors are largely related to political factors, so it is natural on the day of the US presidential election that there will be an increase in the price of bitcoin and then a fluctuation in the price, and now that Biden won in the US presidential election, the price of bitcoin today has become above $ 34,‭000‬, the second factor is recovery  The US market is an important factor, but not the main one

[cryptovlek 2597]

The elections were met with positive attitude from the markets. There was a suspicion created by political opponents of the winner that if Biden won the markets would crash. Nothing like that happened, price of stocks and Bitcoin are rising and Bitcoin especially did great, but I think not because of the elections.

[MK AHMAD 1134]

I don't think the election day have something common with the bitcoin price in the exchange market as we know the market price always fluctuate normal either increasing or decreasing but there is no any impact to the price of coins in the market during election, to me I don't think there is anything to do between the election and the market price fluctuation

[godislovefll 1880]

Option 2 asustede indicates makes a lot of sense, although also because of the pandemic, since unemployment is increasing much more and this makes many people at home looking for a solution on the internet and a good way is to invest in BTC, I think that although I'm not sure but it is another possible cause of the currently high price of btc.

[Quickbee 26]

I don't think elections or the political situation has anything to do with the price of Bitcoin or any other currency. Unlike fiat currency, oil , gold or stock prices, Bitcoin or Cryptocurrency  prices are dependent only on demand and supply.

[yulitzacalvete 1366]

I think that the elections had something to do with it, but more than 3, the pandemic and people spent their dollars in cryptocurrencies, although option 2 also makes a lot of sense because the economy has been very affected by the pandemic.

[P A Ashif 2409]

Definitely whenever there is a political event or some elections like things happen in big country there is impact of it on crypto. The reason I am saying this , recently US election have ended and there was a change of power from Trump to Biden and all the companies whom Trump supports will fall down. And now new institutions will rise up.

[jappy 1129]

There was a lot of news about this and without a doubt that if it affects the market this is because the news is there and this makes people invest, it is like a way to manipulate the market and this is always seen.

[Ahmad ah 1212]

Elections have an impact on the global financial and economic sector, as central currencies are greatly affected by political movements and data because these currencies are centralized and linked to the ruling system.
As for digital currencies, they are decentralized and are not subject to any system, so I think they are not affected by elections or any other political movement.

[Pereira 2303]

I can say that the performance of bitcoin increases accordingly to the mass purchase of various organizations since they saw the quality of bitcoin as a reliable source of income, and it may be that the predictions of% 2 are due to what the exchaings are aware of people who start buying large amounts of cryptocurrencies. This is my opinion friends.

[mzk7736 1592]

No I don't think that US election day have anything to take with price of BTC. Cryptocurrencies are banned in USA and most of their people use their local currency which is quite dominating all over the world. So their influence on crypto market is less.

[Yaabu 80]

I can't help suspecting that this is very conceivable in light of the fact that some worldwide occasions on the planet in some cases have some effect on bitcoin and another cryptocurrencies, however I trust that for this situation the effect will be just certain and cost will increment

[annayks 2314]

These risky assets need to have stability to become more valuable. In case stability is threatened then there are measures to alleviate the concerns, in the case of the corona events, this was done with the money airdrops in companies and bank accounts, or with other bonuses paid to unemployed and workers. This happened in many parts of the world so the markets grown more and the risk assets also driven higher. Maybe Bitcoin will not have negative effect when the money supply runs dry as it will come that day, otherwise there will be high inflation for decades in many countries.

[Samotokika 1780]

On 11/4/2020 at 1:11 PM, BrolySSJ said:

Recently, the same number of the crypto market supporters would have seen, the cost of bitcoin had the option to increment by 2% in only 30 minutes. The circumstance of this in any case, appears to be somewhat helpful and there are theories that state that this value climb could be because of the ongoing races that are occurring in the USA right now. 

 

As indicated by an article distributed yesterday, there are 4 potential reasons concerning the ascent in the cost of bitcoin yesterday, which are: 

 

1. The political decision by and large makes unstable business sectors in the US and consequently this is a normal reaction in the crypto market. 

2. The financial exchange in America is in the recuperation cycle after the pandemic and this could simply be an unadulterated occurrence that it occurred simultaneously as the BTC cost expanding. 

3. There might have been a ton of bitcoin that was being bought in this time and the interest is the thing that made the cost increment. 

4. There are more streams into and out of the trade locales, which show the flexibly and request of the coin. 

 

I imagine that the most probable one is the second choice. Choices three and four appear to be very similar, and pretty standard thinking. What do you think?

 

Here is the link to the article that I took this information from:

https://cointelegraph.com/news/election-day-pump-4-reasons-bitcoin-spiked-2-in-30-minutes

yes to somehow your points are valid like the US elections help the price to boost up but elections are not castting much effect on the price of Bitcoin because it depends upon the common persons investment and trading in it.

[Nupeboy 627]

I don't think election has anything to do with the price of bitcoin going up it may just be that their is more people engaging in the market system that is my own opinion 

[Serbberq 724]

There is no way the election have impact in the rise of bitcoin. They can't be compared. If it have impact in the rise, what about now that the price is falling.