Topic: Bitcoin is doing Pump & Dump before the US Election results are finalized - page 3. (Read 709 times)

 bitcoin is a small asset well under 300 billion value.

Gold for instance is more than 2 trillion in value.


What does this mean?  It means moving the price of the asset is less costly than moving the price of gold.

Here in the USA different companies stand to lose if Biden wins and different companies stand to lose if Trump wins.

So If you are a big oil company or coal company that may lose billions in case of a Biden victory how do you hedge.

hmm gold, silver, platinum, palladium they work hmm lets buy some BTC.  The company hedges some profit into all this items.


Okay other side of the coin you are a big solar company you stand to lose if Trump wins what do you do?

hmm gold, silver, platinum, palladium and some BTC.

Since the total values of all the metals are far bigger then the total value of BTC. they move upwards but slower than BTC.

This will continue until the election is finally settled in December by the supreme court.

It is no more complicated than this.

Other then a lot of people are hedging with BTC beside oil and solar.

We do have our own will to presume things up but are you sure that this current presidential election is the main driver on why we do hit up this level? It maybe yes or not
but to say that people should sell before the election ends then that is one of the decision for ones to made.We cant tell if it would dip down or would remain.
To think that we do have also some bullish news here and thats on Paypal topic. Right?
If people do have the same perception just like you then they do always have the freedom to sell out but be sure not to regret when the market price tends
to shoot up even more in later time.

Not sure why OP thinks BTC would dump due to a Biden win. I mean I get that Bitcoin does well when the USA is a sinking ship, and Biden winning will stop that, but I don't see BTC dumping for this reason. Markets are in general soaring right now at the idea of America having actual leadership again (and for stocks combined with the fact that Republicans will keep the Senate which means no tax reform so companies get to keep paying barely any taxes).

When (not if) there is a correction from here, it won't be because the US elections have been finalized, it'll be because Bitcoin just shot up $6000 from the recent correction and people will be taking profits so it'll probably drop back down to $11000s or $12000s which is the the place bitcoin was stabilizing at before the last correction to $10,000.

Also its very obvious Biden is the winner at this point. He's got PA wrapped up now which is game set match (in the lead there now and the last couple million votes have gone heavily toward him so his lead will only build as the final votes come in). Media sources will probably call PA for Biden by the end of today but we already know its over. If BTC was gonna dump due to Biden winning it would've happened two days ago (instead of doing the exact opposite and pumping hard) when it started to look very likely Biden would win.

Biden saves America from sinking into a tyrannical North Korea-like failed state, but it doesn't magically unbankrupt America (20-something trillion in debt, trillion dollar deficits before pandemic, collapsed economy and raging pandemic that will take lots of time and lots more debt to get out of, massive income inequality, too low taxes to invest in itself sustainably, unsustainable military spending, rising inflation, etc). Those are the American "political" things that guide Bitcoin's growth (among of course many other much larger factors like halvings, supply cap and demand, institutional investment, fundamentals of bitcoin tech, other geo-political events from around the world, continued integration by tech and payment companies, increasing public acceptance, and FOMO), and not so much who the American president is.

Let me understand this, BTC is going up because all polls suggest Biden will win, but once he wins bitcoin will go down because....
You should dig down in your conspiracy pile and come out with a theory of why is Biden both good and bad for the price.
And the 9k, yeah right! I'm not going to ask where you pulled that from!


Your logical prediction is that a shitcoin that was dead for a year is making the bitcoin marketcap go up by 100 billion?
Are you serious? This is the trigger?


Are you sure about this? I'm willing to bet that if we made a tour of the WO topic you won't find more than 1% that believed this.

Before the US elections, everyone including me expected bitcoin to dump but instead it started to rise high in the days of election. Now i do not think it will dump once the election results are finalized. However, bitcoin can still dump because it needs a correction before it make another big move but US elections will not be the reason for this dump.

I think it's sod all to do with the election. It's to do with Bitcoin's cycles as ever. Looks like we're at the beginning of something muscular and it has acted the same at this time of year and cycle in the past. It's not as if this is a shock move. The train has left the station election or not.

Actually it is $15,700 and not 600 mate,But yeah Bitcoin price is flying up to now stays at $15,400
Well change on what?the market price?or the Wall street will react more .Anyway at least we are now seeing the effect of US election and looks like Positive in crypto market.
Sorry any supporting proof about Bitcoin Dumping $9k soon?correction might happen but not low as that.

Why would that thing happen? I don't get it on why people relate the pump and dump on us election while Bitcoin is not relying on US economy? Maybe there are certain groups spreading some dude about it and maybe best not to listen on them. And if the dip would really came then it's time for us to buy and hodl for a pump.

It will continue until the Supreme Court decides who won.

Either guy will sue and go to court.  This should last until Dec 5-15

I believe Biden is already sure to win the race, shouldn't THAT make the market react NOW than wait until November 7?


What's the probability for Bitcoin to crash below $10,000? That's another golden opportunity to buy the dip.

You made a point here when the dust of the US election settles down then the price of bitcoin might likely plunge and dump, since the pre-election and during  the election there was a massive and unusual volatility in almost all USD trade-able pairs across all the market platforms like Forex, indices, commodities e.t.c,
A lot of people might have a divergent views that the recent pump in the price of bitcoin has nothing to do with the US election, personally I think there is correlation between the two, market moves based on fundamental news which are usually synonymous with a spike or pump in price of any trade-able commodities.
However I disagree that the dive or drop down will reach to $9K as speculated by the OP even before the election the price of bitcoin had been hovering above $10K and $11K, this year we had seen a significant growth in the price of bitcoin thus I expect the bullish rend to continue till the end of this year.

I do not think the US election is having any connection to the price of bitcoin, people can be getting confused because after halving, US election follows, it is clear that people prefer to buy bitcoin after halving, this could be the results of what is happening, and if we use that to conclude, it is very important to know that it will take time for this trend in the up price. Like this year 2020, do not expect any dump in bitcoin price. It is not caused by election, it is caused mostly by halving fomo people. But now, many trades are turning to margin and future trading, which is the reason why the price further continue to increase.

Result of the US election may not effect largely in bitcoin price. We may see a price correction soon but I don't think bitcoin price pump is highly related with US election. So I'm not expecting a large dump like this after the final declaration of election winner.

Actually the whole crypto marketcap is increasing now. It means people are investing large amount in crypto. That's why the price of bitcoin going up like this. Maybe those(INMAX) assets movement don't have notable impact in bitcoin price.

Although I don't deny that elections-related speculation (small pump and dump) may happen, you seem to have "forgotten" the facts that Bitcoin had a block reward halving this year and historically after halving a FOMO bubble has started (sooner or later). Also you have forgotten about PayPal. Also you may have forgotten than this world is bigger than USA.
So there are plenty of valid reasons for the pump, not only "the" elections.

pretty much there is zero rules for this

only thing that has proven profitable is to hodl money you don't immediately need in BTC - (only if you bought everything at 16k+, can you be on the losing side, but that is about to be trumped )

if it does tank to 9k, that will just give you more BTC for the monthly investment.

What is this? FUD 101? 

I thought that when Biden is going to win the price of bitcoin will go down? or
if Trumps goes for the second term, bitcoin will pump?

But it seems the opposite happen? So what gives?  It only means that there are no connection to the US election and bitcoin being pump, maybe we are just at the end of 2016 (there are similarities) and then eventual bull run next year 2021 (similar to 2017??)

Still don't see the connect for it pumping and the reason for it to dump by 7th November, i try to make a sense out of this sudden surge but can't quite understand it, i guess everyone is in the same dismay as to the reason while btc going crazy but most certainly it won't keep going up like this, better people decide when is the right time to get out, and 9k! i highly doubt it will go that low but lets see what happens in next days to come.

To be honest I don't want to associate the presidential election in the US, with the current rise in Bitcoin, Bitcoin is not only traded in the US, almost in all countries, that election in the US, by chance.

There are several reasons I think Bitcoin is moving this week.
1. Halved has spent the past 6 months which happened in May 2020, maybe it's time for Bitcoin to show itself.
2. There is one coin that is listed on one of the well-known exchanges, which has been removed, namely INMAX (INX), with the transactions of billions of assets that have been withdrawn by investors and traders, maybe all of these assets have been invested in Bitcoin.

For now that comes to my mind, this is my logical prediction, and I don't believe Bitcoin is going up as an election factor in the US.

Regardless of who are going to win, btc has gained momentum already and it's decoupling with traditional markets, hence its going on its own. As for the pump, if it nose dive to $9k, doesn't matter if you are here in the market for the long haul. Why not instead of converting your btc to Tether to hedge, why not just buy more during the dip and then continue to HODL?

I am long term for Bitcoin, there is no need to sell mine for this kind of reason.
It may affect the price of Bitcoin, but we can't say it is totally 100% the reason. I am seeing a price correction probably, because of this run of Bitcoin on having a price increase of around $1,000 for just a day.