Topic: Biden out Bull run in??? - page 2. (Read 529 times)

Im not sure that is the reason but there is a good chance of a bull run while we remain above the weekly moving average.   We have also maintained the peak prices of mid July as the current low at the same time which is bullish.

200 day moving average is rising so long term bullish but the 50 day is in flat and back into a slight decline which should give some notice for caution in the amount we can move here.   Ideally the price action is best performing with a rising 50DMA.

You’re right. Bitcoin bull run is inevitable, no matter how these news affecting the market positively or negatively. It’s just that Biden’s decision to abandon the presidential race is just in time with bitcoin price pump, or even if we say that’s considered a hug boost for crypto particularly bitcoin, still that news alone could never be reliable enough for the price surge that is currently happening. But I’m glad that Biden’s out contribute to the market in a positive way.

Well, this is what I mean. The increase factor can occur due to several causes. Not only because the candidates who are fighting won the election by raising positive issues regarding Bitcoin. It's funny to me if because of them prices will increase even though there is an effect that makes prices increase because of them.
If there is a lot of demand, perhaps if we refer to the law of supply and demand, without political factors the price will still increase.

This may be one of the factors along with many others due to we will see another bull market. But it is not like that if Biden had not abandoned the presidential race or even if trump did not win the upcoming elections, we will have no bull run. Regardless of these political developments, we are due to see the Bitcoin bull market and the major reason is the halving and the four year Bitcoin cycle.

Also in the previous years, in the previous bull markets, we got the bull seasons and there were no positive sentiments from the USA or any other governments. I will just take this as a positive event for the market.

Yea there is no denying the fact bitcoin it self stands strong against any manipulation, so no individual can actually manipulate bitcoin, what impacts the market price of bitcoin is just the demand and it’s supply, bitcoin is a very great asset that we all know will get better in terms of demand and over a long period of time price will grow that’s why the plan is always to invest in it for a very long term, it’s just pure economics.

But we all know that there are events that are catalysts to the demand or supply of bitcoin, a strong example is the halving which it’s period is usually a time of high demand for bitcoin. Other than that there are other catalyst again mostly propagated by news outlet, example is the sells of bitcoin by the Germans which Incited a FUD and later went to create a large supply and a dip occured.

In my opinion the US election definitely has its own ability to cause create a supply or demand catalyst, even though it is not that huge but it is already in play. Trump takes side with bitcoin anything positive from him will cause s short term demand, Same a positive news from Biden side will be negative on the bitcoin side. I wouldn’t say Biden out will cause a bull run, but anything related to trump winning now will usually causes demands

Yes, I do love me some "hug boost". Honestly don't know anything about Trump, other than he has to win this now but have a feeling even if he doesn't do squat for Bitcoin, the pricing in and expectation of it will actually buoy Bitcoin for a bit.


And yet for some reason demand will go through the roof if everyone's best friend and their mom believes Trump can be good for Bitcoin (price). Funny, agree, but logic doesn't usually apply uniformly in Bitcoin, I find.

Biden and Trump may create an effect to bitcoin but I don’t think the whole pump of bitcoin these days are only attributed to Biden or Trump, but it’s probably the right time for bitcoin price to skyrocket again after its price has dumped few days ago. Let’s just say when its demand, adoption and its market sentiments are doing in favor of the market, the whole price of bitcoin will certainly be moving upward, not the other way around.

People will not stop to amaze me, Biden is still the US president and that will not change till 2024, not to mention the fact that he nominated someone with the same view. Why would the market react so much to that? People always like to point fingers at happening and just find whatever excuses that come to their heads for Bitcoins' woes and appreciation.

In my understanding of what is happening now, the trend of the market was already bullish before Biden declared his withdrawal from the presidential race. This will not magically stop the market trend, and more reason why this claim doesn't hold water is that the market didn't react strangely after the declaration till now. Besides, Biden's administration is not anti-crypto as widely spread, they are only trying to regulate it.

What a funny reason to correlate with Bitcoin price, Biden out, Trump dead, Elon Musk in, Xi Jinping takeover US etc. Bitcoin price is depend on supply and demand, not from someone else including a president.

Even Biden is out from the election, it doesn't mean Trump or anyone else can make a decision without Biden. Biden is still the president, so he can do anything until Trump will officially back become a president.

Not surprised about that because like you mentioned Trump has Bitcoin supporters rooting for him and you don't expect a woman who Biden kept as a ceremonial figure to fill in for him should Incase matters like this arise? We all know she doesn't stand a chance against Trump on a good day but the votes and the outcome of the debates can prove otherwise.
Trump is at the forefront of every Bitcoin price headline at the moment and that shouldn't be surprising with how much energy he's got going. You know what makes for a good story? A convicted felon championing for Bitcoin. It will make naysayers tongues wag but then we know how resilient he is and won't let that faze him and continue to do what he's doing. If anything, this new rival in Harris Kamala will bring out Trump's harshest instincts.

It is possible that for some investors they see this as positive news, because with Biden's resignation it makes Trump come forward as the strongest candidate, which we know that he came with good promises in the world of Bitcoin, and that made his way to becoming president became smoother and made investors more confident that he could become president and realize his promises. However, I'm not so sure that it can bring a bullrun, because to achieve a bullrun it can't only be achieved with Trump as president, but it must also be supported by other positive news, but it does provide positive things to the market.

Yeah, I think Biden being out could be great for crypto. Because dem candidate (probably Kamala) could be pro-crypto as well, these people are on the side of whoever pays them, and Kamala could be bought as well and would do better for crypto world.

This means, whoever wins, we have a shot have having a better future for crypto in the USA , that should be something to be excited about. I am not saying that will be the case, I am just saying that it is a good possibility that we can see that happening, not unlikely. I believe that we are going to see things change easily as well, we just need to make sure that it is not really that bad, we could probably do something nice with it. Obviously it is not going to be too simple, it is going to take a while.

She could have, but for now the numbers doesn't seems to be likely favoring her. And it's obvious that she will be endorsed by anyone, but I guess even if they do, Trump is leading as per the data and it's going to be very hard to overtake. And if we talk about crypto, this is the breaking point for Trump as it looks like he got a positive nod from Bitcoin supporters already.

So you can't discount that Trump, couple with the news goods with him picking Vance as his VP, they will have to do something drastic to overcome him. And probably this is what they have decided, but still Harris is not that well known to voters while Trump is making headlines and push the price of Bitcoin to almost $70k.

One theory that I've read is that most of the Trump supporters are also into Bitcoin and that's why we're seeing a pump. 

Seriously, without this election, the bull run will come smoothly. But I'm starting to play with a thought that this bull run might be even bigger after this election.

And can't deny that fact that the politics in the USA has affected the Bitcoin market this time.

Even if Biden chooses to continue with his Presidential bid against Trump, crypto will still be a big boost as we are in the bull run season and we are just waiting for the right time to see the price suddenly zoom out and go on parabolic rise. But it could be the after effect of Trump, who declared himself to be pro crypto and there party are putting crypto in front of their policies. But there are still months to go, Harris will be the new nomination so let's see how fare he can go against Trump. It might be a task for Kamala and her party to overcome Trump though. In any case, if we can still continue to do DCA before the price goes off at the end of the year, then we should all do it and save and accumulate as much as we can.

She can have a fighting stance against the ex president as most of her leading rivals have endorsed her, same with speaker of the House, Nancy Pelosi. Contrary to beliefs, many people don't really dance to Trump's tunes and still have a distate that he's even a candidate. She can use this aversion to her benefit if she can convince the centrist in important states and energize the Democratic base who have been in the past few weeks, swinging towards a state of uncertainty, to equal or rival the enthusiasm many on the right hold for the former president.

Even if Joe Biden is not out of the United States presidential race, bitcoin will still later increase because it is likely that Donald Trump would be the next president of the United States even if Joe Biden contestant in the presidential race. Joe Biden party might probably have seen that Joe Biden might lose and making new strategies to make sure that Donald Trump will not win. If Donald Trump won, I think the market would be bullish that day. But regardless of this, be it anyone that wins, bitcoin is still an asset with increasing value.

But investors need something to fuel and put their money on Bitcoin so that we will have this bull run. Nevertheless, after the news it really push as high as $68,500. However, it has settled down a bit as we are seeing minor dip in the last 24 hours to $66k.

Still early though, not sure how strong Harris is against Trump, the score hasn't changed a bit, it seems that the Americans are favoring Trump this November. So most likely if there will be another massive pump, it could still be this November when Trump win and then triggering till early next year when he official sits at January.

 I won't attribute Bitcoin's increase to Biden stepping down at all cause that will seem unfair. If anything, we're seeing such bull run thanks to the effort of Trump and the fact that he's not relenting even with the assassination attempt on his life.
More people are confident to put their money in Bitcoin to support the campaign from what I see and that too could cause the rise in price.
 

Don't expect anything from current political events since that doesn't dictate anything. Maybe it can do something with regulation but I don't think those events could trigger a bull run. Demand is the main reason why we could experience that scenario and I don't think that happens when Biden step out since that event doesn't change anything.

Maybe if Trump successfully acquire the presidency then he announce that America will separate some funds to buy Bitcoin in support of this technology then provably that we could able to see the demand will go higher and that possibly could trigger a bullrun.

But with that scene I guess bitcoin will perform the same.