Topic: Any relation between market dump and Biden's win? - page 2. (Read 437 times)

Let’s not get deep into politics now, but Biden won long before the election thanks to the still current president who is very negatively perceived in most of the world, and in his own country as well. Serious analysts and investors knew what was going to happen, and that there would be a turnaround in some things when Biden won.

I think that in this particular case we cannot talk about a dump, it is a completely normal price correction that would have happened without the US presidential election. The problem is that some people think that the big bull run has started, but what we have now is not even similar to the end of 2017 - but to what happened at the end of 2016 - and what happened is that the price of BTC went up about 100% after halving.

For now, Biden has put the fight against the pandemic in the first place, and I am sure that there are many more important things he will dedicate himself to in the first year of his mandate.

I am not an expert in this matter, but according to the information that I have seen, everything looks very cloudy. I think that this will end after prolonged trials, which in turn will affect the market and the entire economy negatively. It would be good if everything ended peacefully, but neither side wants to give in, I'm sure of that.

in my opinion it is too much. indeed at the same time, but not all of it remains. If there is a connection, then how about Biden's statement on crypto? is there any?
maybe more inclined to paypal which is being discussed so far.
as for your perspective like that, I don't mind. maybe it is true, but for now I have not received any actual information regarding the increase in bitcoin that has anything to do with Biden's victory.

The situation is more nuanced than that.

Even if you believe there is no direct relationship between BTC and any other assets, all markets are interconnected and thus indirect relationships form. This is because all markets are dependent on dollar/fiat liquidity. When there is extremely high demand for fiat liquidity (like this past March when there were extreme fears about financial crises and recession) all investments assets on average, and especially risk assets, lose value. When there is extremely low demand for fiat liquidity (due to extremely low interest rates and excess money supply) this tends to inflate all investment assets.

In fact, I believe the second point is very relevant to the strong correlation between the American stock market and Bitcoin, going back to 2010. This correlation isn't short-lived, nor is it confined to this year. It's been going on for many years.


The stock market is performing excellently too. The S&P 500 index made a new ATH in September and is hovering below the highs, threatening to break out again.

The United States can affect the economy of any country, which can affect world commodity prices. Including one of them is crypto assets.
Related to the red candle color on the Bitcoin chart, which worries some people, it is because there are some investors who secure
their bitcoin assets. Because of the high demand for bitcoin, the price went up again maybe like that.
However, after the USA presidential election was over, bitcoin could survive and return to a price of $ 15,324 today.
I stated that it was just an ordinary correction.

Biden was in the favorite on those days but when there is news that he crossed the line that dump came so I felt it all of a sudden.Well I am looking for the reaction of traditional investors like stocks with their new president and more analysts says that it could negatively affect the stock market initially.

The elections started about 5 days ago, well it was 5 days ago but the counting also started 5 days ago and ended very recently, hell it didn't even ended but at least we have enough data to say that Biden won, so as you can see things didn't suddenly happened so there is really nothing that could suddenly change crypto neither.

If the elections were today and the results came in today and the price went down today I would say there is a big connection between them but for the past 5 days we have been counting the votes and Biden looked to be winning for most of those days and price went up for almost everything, just yesterday almost all coins were going up like crazy right until Biden declared winner. I feel like there is a connection between prices sky rocketing and correction coming instead of elections.

I am guessing they used the Software fraud that has been spotted only in one area in Michigan (transfered 6k votes from Trump to Biden) was used in many many other areas and cities. Especially the software is connected to who? George Soros once again. Watch the Trump show. He will expose them all to the world and show whats going on for ages in elections.

At the moment, there is no certainty in the results, so we cannot link these events. If you remember Al Gore was already declared the President of the United States, but after the courts Bush became him, it is quite possible that there will be a repetition of this situation.

Probably this is the current situation, since price started to stabilize around $15000 region in the next few hours of that dump.But I can see lot of altcoins continue to bleed even though the major crypto remains stable so the panic sell button might trigger another dump?!

It's just a coincidence wait a few more days and the market will recover, there's no perception that Biden is the enemy of Cryptocurrency, he's not announcing anything it's just us people who speculating that there is, we'll wait and see if he is for or against Cryptocurrency and we'll know it next year, if he is for it, we'll see a massive increase of the price.

But not that bad compared to the dumps happens this past months so i think it is not about Biden's winning or losing but it is about the new president will be having the white house.
and this has been predicted months ago that prices will surely move after the election,maybe investors from US is trying to keep safe first while there is no concrete plans for Biden's administration.
though i hope that this small downfall will fair enough to maintain the $14,000 level and won't fall down to 4 digits again like what we had last March this year.

For fundamental analysis part, I can consider Biden's win may have a connection
But if you will check on the chart, the RSI indicator on a 1-day time frame, it is oversold, so I really expected this kind of pullback $15,900 yearly high.
But, I find this pullback a healthy one for Bitcoin, I really want to see a healthy run for Bitcoin for creating another all-time-high, not the same with the 2017-2018 parabolic run of Bitcoin, this time is extremely different.

Price pulled back probably will be related to Biden's win. Obviously those who are favors in trump dont like the idea of Bidens handling the US now. There are some whom fear that Biden might be strict or less favoring crypto market and so pulling out without any hesitations. But there are news that an exchange support Biden's campaign so likely he should be grateful to that act and be righteous to any decision his going to make in relation to crypto development.

Of course there is, someone said yesterday before the price of Bitcoin pumped to $ 16000,
if Biden won the election then the price would be dumped and not good for bitcoin, and finally answered,
the Bitcoin dump price was almost $ 1000 in a few hours, but maybe this is just a manipulation so that whales can buy cheap again.

the only relationship is that for the past 2 months a big FUD campaign has been going on that has been trying to convince people that bitcoin market is linked to a lot of different things that has nothing to do with it. so obviously there is always a lot of newbies who fall for the lies and perform idiotic acts (bother panic buys and panic sells). in this case all we saw was simply a panic sell by these newbies that also coincided with a reasonable correction that was expected to happen in the market after the big rise we had from $10k to $16k regardless of the irrelevant things such as US election.

right now the panic sell + correction seem to have ended and price is back to $15k again.

Market is volatile and speculative people sell because they want or need to sell based on their judgement and their needs now, this Biden winning the election has nothing to do with the market at all, because Biden never announced that he is against Cryptocurrency and we will only know that when he is sitting as the president and create policy about the economy and his administration out look about Cryptocurrency.

There is no connection to it. Whoever is the winner in the presidential elections of any country in the world cannot determine which direction the price of Bitcoin would take next. Aside from that, there is nothing in Biden's presidential campaign which speaks of waging a war or such statements against Bitcoin if ever he becomes president.

This is nothing but a coincidence. It's just that people are always having fun attaching two completely unrelated events.

We are at the weekend now so the real emotions of the investors will be witness on Monday Morning, not only from US it will get some reaction all over the world. Hopefully there won't be much correction to the bitcoin's price due to Biden victory.

Not sure why a couple people have said Trump was friendly to bitcoin. He only ever mentioned bitcoin once and said he's not a fan.

Trump doesn't like Bitcoin and Biden has never mentioned Bitcoin, so nothing to make of on their policies to Bitcoin.

Market was pumping all through Biden taking the lead and as it becoming clear he was going to win. Normal correction happening now, as anyone who has experience in this market expected. Market started correcting some hours after Biden was confirmed to have won, and days after it became pretty obvious he was going to win. That's not even a good coincidence to say the correction matches up with his win because it doesn't even match up haha. If it had anything to do with Biden winning it would have happened as soon as he won this morning, and really it would have started a couple days ago when it became pretty obvious he was going to win, instead the exact opposite happened and it kept pumping throughout this time. Basically, it has nothing to do with Biden being elected, though Biden being elected may have contributed to the pump the last few days, that may have just been a coincidence though.

The stock markets also shot up this week as it became clear Biden was going to win. So if anything Biden's election may have helped boost the markets (it certainly helped stock markets, I think it is much more dubious to say it had much effect at all on Bitcoin, but due to the timing of the pump Biden's win may have helped Bitcoin pump this week a little bit but I wouldn't put too much emphasis on it), but after any pump there is always going to be a dump.