Not only the financial markets, but also the cryptocurrency markets could be shaken by this important round of elections.
In the introduction it must be said that Bitcoin is just back from one of the best months in history. October has in fact brought him to a step from 14,000 dollars and levels that Bitcoin had not seen since January 2018.
The weight of the U.S. elections on Bitcoin
This euphoric phase, however, is weighed down by the elections in the United States.
In the last few days Bitcoin has been declining and currently fluctuates at 13,400 dollars. The volumes have also returned to a low level, as if investors are waiting for more precise information from the market.
Analysts are divided on the effect the elections will have on Bitcoin.
John Bollinger, as reported by Forbes, believes that the presidential elections will have no impact on Bitcoin.
„I don’t think the election will really impact Bitcoin one way or another. It is more important to look at the adoption of major companies.
Bollinger is not afraid of the impact on traditional markets either:
„I suspect that for traditional markets, the election will be more of a ’non-event‘. I mean, we have built such an extraordinary level of emotional involvement during the election, I think whatever the results, they may actually be a bit disappointing, at least for some people, and I think traditional markets will actually be flat or higher during the election cycle. I am not one of those people who predict misfortune in relation to the election or any event that might occur after the election.
Simon Peters‘ opinion of eToro differs, reported in an email:
„It seems that we should wait until tomorrow when the United States goes to the polls before we have any clarity.
In short, his opinion is that investors are in a waiting phase.
Tomorrow, when the first results will come and then when it will be clear who will be the next president of the United States, we can see perhaps more movement in the markets.
It must be said, however, that while Trump’s positions have certainly not been pro-Bitcoin, Biden’s positions are little known. What is certain is that, no matter the winner, in the next few years cryptocurrency will no longer be ignored.