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

[BrolySSJ 7899]

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

[Zeshan Khalid 2577]

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.

[bogdanoff 3173]

The only reasons I see is that many thing that Bitcoin will be the best investment they can make and do not want to be left behind. The winner of the american elections is already Bitcoin and whoever is elected as president will not matter at all. Bitcoin will keep rising and adopted.

[Sykkuno 2887]

The elections will not have any negative result on Bitcoin. I don't think the rise of price to 14k and the drop later to 13.6k had something to do with elections but I read that the drop happened when Trump was talking about election fraud in a speech he made and probably this wasn't met well by investors.

[Brushless4500KV 4214]

It depends on the approach of the future US president towards cryptocurrency. He may help crypto to grow or limit its growth by determining more taxes. In either way, it takes time before these effects takes place. The current bullish state of the market has certainly nothing to do with the election because it started much earlier and hasn't changed since the electoral competition has started. Whatever the case, I don't invest based on what is unknown.

[ETheHedgehog 3104]

it's been predicted that bitcoin would grow even more after the US elections are over bitcoin could reach $18000, but that for me doesn't seem like two connected events and feels more like a coincidence that bitcoin is pumping at the same time, i mean we were already predicting a pump in prices since this year was the halving and it's effects on prices are starting to appear now

[percare 3192]

The Bitcoin price is not affected and while some think the elections in america are very important, in fact they don't have a lot to do with Bitcoin. I don't know what happened with that either, there are no results yet and it seems the two candidates are in some form of tie with Biden leading, I just think that the Trump and Biden supporters did some games with Bitcoin too and tried to convince that things will be better with one or the other.

[hhh24 1009]

LOL

.

 

[cryptolover45 1187]

Hey mate, you ask a great question about the bitcoin price, does election play a important role in the Bitcoin price, so my answer is election play a important role in the Bitcoin price beside many good news about Bitcoin increase the BTC price.

[Maaz sultan 265]

Yes i have see that these news can effect on the prices of crypto currencies and of course the elections in us will effect when result announced .

[Husnyjaf 1784]

The United state of America held it election on the 4 November 2020 between Biden and Trump.most Americans participate in the election through e. Its will definitely affect the price to mu own view.

[BigBoss01 0]

In my opinion, we do not have to choose one of these items. because they could all have had their share.
 

[Kenciuu 1729]

I am torn between agree and disagree because I did not notice of high the price of bitcoin because of the election. We all know there is a war between cryptocurrencies and old finance system. Old finance system is under by the government. If it is getting high, I do not know it is because of election day

[Artugul78 91]

I don't think Bitcoin will have any effect on the US Trump and Biden elections.  The election of a country basically affects that country.  So in my opinion the election will not have any effect on the price of bitcoin

[Braulio Eurea 720]

The elections in the United States are an extremely important event that affects all international events and especially the financial and political world. Regarding bitcoin, the possible result positively affected the bitcoin market, which made it stand at 14 or 15 thousand dollars per bitcoin and with the expectations of reaching 20 thousand dollars. A possible victory for the Democratic candidate gave confidence to the bitcoin market.

[George10 9932]

I don't think the USA elections has a hand in the strong bullish trend that bitcoin price is holding currently but I believe this is as a result of the halving event that occurred early of this year and now history is repeating on it self as the event always does push the price to certain highs looking at previous data on price charts.

[sarahmoses202020 251]

On 11/4/2020 at 12:25 PM, Sykkuno said:

The elections will not have any negative result on Bitcoin. I don't think the rise of price to 14k and the drop later to 13.6k had something to do with elections but I read that the drop happened when Trump was talking about election fraud in a speech he made and probably this wasn't met well by investors.

I think that the elections have an impact on bitcoin because during the election period bitcoin was in an uptrend but right it seems their is going to be a reversal after knowi g the winner of the election.

[zhoutong 2188]

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.

[Syedbesharat 5423]

Like others I have also suspect the Suddenly increase in BTC price is related to U. S. A election but it's nothing to do with it. As we see BTC chart and follow it's history we can see their is always a movement in the last quarter of year for BTC. The price is  rise quit fastly and difference wasn't small. Now the price is still growing and election is ended. 

[Upright 2688]

Politics and economic finance some time go hand to hand, as Bitcoin now recognisable in the world of money and stocks, we can't really tell as the boost engine of Bitcoin price is highly regarded on the tradings l activity which occurs

[Kafon 0]

The US elections may have played a role in the rally that occurred this week, but the trend is up since the price reached $ 5,000 at the beginning of 2020, and bitcoin is now trading at 15,500 levels, and this indicates an abundance of increased demand and a decrease in supply.

[kryptonick 2659]

I've read that some sold because Biden was elected and they thought price of Bitcoin was going down. Then others that were waiting bought the dip because they were waiting for this reaction and had funds ready. So price is now $1300 up from the recent low and finally people in America understand that the internet and Bitcoin are not owned by them.

[Froshk 1828]

Just like the covid_19 Era, the USA election has a positive as well as a negative effect on cryptocurrencies, reasons been that economic activities that are directly crypto based where halted for a while, so also it was at these period that btc increased in value considerably(positive). 

[wassim19 645]

There is no major movement in the price of Bitcoin. Its price still fluctuates at the same rate, and I think that the elections did not significantly affect Bitcoin because there is no problem that happened. Anyone who is elected as president will not be important at all.

[iloveyobit 6599]

I do not think so, because it is almost an ordinary day like all days, but perhaps the election result will affect the market’s performance, given the standing of the candidates.