Any relation between market dump and Biden's win? - page 3.

TIDOVEE

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Quote from: Findingnemo on November 07, 2020, 01:51:33 PM

Do you see that guys, the price of cryptocurrencies are in red since Joe Biden crosses the required number of place to become president?

Almost every crypto is in red at the hourly candle and what's your opinion with the dump caused especially after such news?

I want to believe it's only a coincidence, I may not be too sure if trump or biden are participating in bitcoin, but if only there is reason to show a sense of belonging to any of them,which I don't think is appropriate enough being a decentralized coin. If you cannot do that for other countries that participates, we need to be careful to avoid centiment. Let's not start what we cannot finish.

LogitechMouse

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Markets are heavily driven by emotions.
You may not see any relation between the dump of the market and Biden's victory but for the investors there is.

A veteran investor once said:

Quote

A Joe Biden presidency would be negative for equities in the U.S. and positive for other markets given his plans to hike taxes on companies and wealthy Americans, according to veteran investor

This is base on this article: LINK

Not only him but other investor isn't that optimistic when Biden wins when it comes to the market and with his victory, it created a domino effect among them causing the market to dump both the stock market and crypto market because we know that both of these market are correlated with each other.

samcrypto

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Quote from: Findingnemo on November 07, 2020, 01:51:33 PM

Do you see that guys, the price of cryptocurrencies are in red since Joe Biden crosses the required number of place to become president?

Almost every crypto is in red at the hourly candle and what's your opinion with the dump caused especially after such news?

Maybe yes, maybe no so its hard to tell but I’m sure many are disappointed since Trump losses the bid. I remember how the market reacts every time trump says a good word to Bitcoin, but for sure this is just temporary dump and when Biden takes the spot on Whitehouse people will get used to it.

thecodebear

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haha no it has nothing to do with Biden's victory. Biden looked likely to win since late tuesday night, and very likely since wednesday morning, and crypto was pumping that entire time. If it had anything to do with Biden winning then the pump the past few days wouldn't have happened. Bitcoin just rose $6000, a correction was imminently expected.

If anything Biden winning helped add to the pump the past few days as it became pretty clear Biden was going to win, but I wouldn't say its a major factor.

Pumping because of paypal, was coming off a correction, bullish sentiment has been building for a while, and institutional demand is increasing at a rapid rate recently.

TravelMug

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Quote from: Findingnemo on November 07, 2020, 01:51:33 PM

Do you see that guys, the price of cryptocurrencies are in red since Joe Biden crosses the required number of place to become president?

I'm not sure if there are some correlations with the US election, the most logical reason maybe is that people taking profits after we exhausted at almost topping $16k.

Quote from: Findingnemo on November 07, 2020, 01:51:33 PM

Almost every crypto is in red at the hourly candle and what's your opinion with the dump caused especially after such news?

The best weapon is really not to panic, we have been seeing higher highs already, so it's no concern if we see a dump after a huge upside. And as others have said before, bitcoin market doesn't care about politics and other social issues. On the other hand, if it goes down to $12k or even lower than 5 digits, then it's time to accumulate again.

pilosopotasyo

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Quote from: Findingnemo on November 07, 2020, 01:51:33 PM

Do you see that guys, the price of cryptocurrencies are in red since Joe Biden crosses the required number of place to become president?

Almost every crypto is in red at the hourly candle and what's your opinion with the dump caused especially after such news?

I don't think there is but what he will do is what makes an impact, if the cause of the dump is because of Biden winning the election, it is just a speculation, he hasn't announced anything on Cryptocurrency during his campaign, so I assume he is not against it, but will see it after he assume office, all we have to do now is to hope that he is positive on this technology.

exstasie

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Quote from: Findingnemo on November 07, 2020, 01:51:33 PM

Do you see that guys, the price of cryptocurrencies are in red since Joe Biden crosses the required number of place to become president?

Almost every crypto is in red at the hourly candle and what's your opinion with the dump caused especially after such news?

I don't see a connection. If the stock market were dumping I would probably think otherwise, but since the short term correlation is weak, I'm assuming the BTC rally's momentum is simply exhausted. The market just rallied for 5 weeks without a significant pullback; a correction was due.

romero121

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Already a video of Trump leaving the White House is getting viral around the internet. Here he has been moving from White House to his golf club. When there is change in the world power ruler, surely it'll cause little disturbance in the market. That's what we're experiencing with our cryptocurrency market. Right now it has fallen low to $15000.

dimonstration

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Dimon69

If the drop will be related into Biden winnings then we can also say that it's increase in the past weeks we're somehow related in election other than PayPal news. In the first few years we may not see the new President got something to deal with crypto but if he's not really in cryptocurrency hopefully now that he is a President he might consider using or implementinv it as it gives benefit to many..

UnDerDoG81

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I think people/wales take any chance to create panic... Nothing unusual here...

stompix

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Quote from: Findingnemo on November 07, 2020, 01:51:33 PM

Do you see that guys, the price of cryptocurrencies are in red since Joe Biden crosses the required number of place to become president?

If you link the dump with the results you can also link the pump with the news about Biden winning Michigan and Wisconsin and cutting the difference in Pennsylvania, and now that you compare the two it makes no sense to put both events on the news about Biden getting ahead.
So, how you say that him getting elected is bad but him winning states from Trump was god?

We had a pump, now comes the correction. Pretty simple, as long as it doesn't go below what we had in late October it's nothing out of ordinary, I don't think anyone here was thinking we will go up and up and up with no breaks between jumps.

Quote from: Tytanowy Janusz on November 07, 2020, 02:29:30 PM

If I'm not wrong Biden is less into crypto than Trump was (trump was sceptical, Biden looks to be against).

Biden has never said anything about crypto, nobody knows if he's for or against.
But looking at the people baking him he might actually be better than Trump.

Tytanowy Janusz

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If I'm not wrong Biden is less into crypto than Trump was (trump was sceptical, Biden looks to be against). So if we will see any crypto regulations in USA they will be more stricct and less crypto user-friendly than it would be if Trump will stay in charge. But on the other hand ... there might be no change during his cadence. So in conclusion. Biden win will have moderate/negative fundamental impact on crypto while Trump win would have moderate/positive.

Findingnemo

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Quote from: jackg on November 07, 2020, 01:54:13 PM

... I'm not sure his win is yet confirmed (or anything really changed... Yet).

AFAIK, yes. Biden already got 284 Electoral college votes after winning the Pennsylvania. So he will be the next president unless Trump proves that he cheated at the election polling.

jackg

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https://bit.ly/387FXHi lightning theory

Anything different is obviously going to cause some sort of destabilisation in price until people know what Biden is going to do... I'm not sure his win is yet confirmed (or anything really changed... Yet).

Findingnemo

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Bitcoin = Financial freedom

Do you see that guys, the price of cryptocurrencies are in red since Joe Biden crosses the required number of place to become president?

Almost every crypto is in red at the hourly candle and what's your opinion with the dump caused especially after such news?

Topic: Any relation between market dump and Biden's win? - page 3. (Read 437 times)