Topic: Cryptocurrency: US Election 2020 (Read 469 times)

If that is true that you converted Bitcoin to usdt, that means you have lost out on the recent rise in Bitcoin, unless you just converted/sold yesterday or today offcourse.

Still it would probably be more wise to have at least some of your funds in Bitcoin. Why, because if the rising trend continues, you won't be left at the station when Bitcoin moons.

The result of the US election could very well pump BTC.

i dont like trump personally & without trump it will be better for everyone. but i agree with you that after election we can see another big pump. but this time is really unexpected for crypto. thats why i converted  btc to usdt. hopefully market will be growing continue, lets see.

We are not pretty much sure what could be the possible impact of this USA election on both US dollars and on cryptocurrency for those parties are still into promise so basically we cannot expect that much up until the election is done and we already do know who will be the elected president of the USA. Up until then, we must just stick into what is currently happening on which crypto market is still doing so good as well as the US dollar based on the price chart. Let us all see and witness what could be the possible or more likely to happen if Biden wins as the president or if ever Trump will be able to successfully defend his position as the president. No matter what the result will be, we still do not certainly know if the effect on crypto and US dollars will be a good or the other way around. Let's just wait up until the election is done.

I do not think so. I think Bitcoin has run out of momentum

I am not sure about this, but as far as I know the power lies with the state government and not with the federal government. That's why states such as New York came up with regulations regarding Bitcoin and other cryptocurrencies. The American president and the federal government doesn't have much say on these rules and regulations. And that's why I said that the situation is unlikely to change after the elections.

If it goes like the way you think and the dollar tanks and Bitcoins rises, so what, the net effect of that would be zero.

Lets say the dollar drops 10% and Bitcoin and altcoins rise 10%, in nominal dollars you would have a net gain, but in purchasing power you would have no gain after inflation.

 

There is uncertainly before the Election day and after it. Trump will not leave WhiteHouse immediately after the Election day and he has months to do something with his President power. Let's skip the future scenarios and do retrospective findings on how Bitcoin (in price and volume) changed before and after the Election day 4 years ago (in 2016).


Price increased and volume rose too. The question is "Will the history repeat its steps?". I don't know and the conditions from SES (socialeconomic status) to public health problems and political environment in this year is very different than in 2016.

that is if he wont changed it but if he changed it , it wont be the same as before . it wont be not right to change the policy according to him without thinking if what will this be the effect to others but idk if its possible for a lately elected person to be dis elected again if he show a manner like that however people wont complain but even praise him more if he change the policy for the good of all  .

i dont know the background of this guy but lets hope your thoughts were right because we all know what can happen if ever he prohibits it  .

Even the bitcoin price seems to be waiting for the US elections outcome to start moving in one direction or the other. About policies it's hard to say what Biden's ideas are but it looks me whoever is going to win will push the throttle for CBDC and digital dollar. That's what they are doing here in Europe too.

Even if Biden gets elected, most of the economic policies are going to remain the same. Even if he comes up with something new, the impact on the market won't be visible for many years. And that is about the mainstream market (stock exchanges, real estate.etc). For cryptocurrency, the policy will be the same. I don't think that Biden will try to prohibit the usage of cryptocurrency.

US election is at corner which all the parties are very busy with their party member to make sure they vote wisely in the up coming election. Joe Biden who is claiming that he will be the winner in up coming election and also promise all the crypto user that he will do all his possible best to make all cryptocurrencies remain active 247 in the country.
I think with this crypto Joe Biden has include in his campaign show he will surely win the US election that is next month.

Really? How you can said so. The United States is a big nation and any changes in the politics here have dramatic impacts on the economy in the USA. and the world economy too.

The coming President election and its uncertainty after the day 3th November, Biden or Trump will easily accept result when they are losers, won't they? The uncertainty will cause financial market in a bad situation and crypto market won't be different.

The outcome of the presidential elections never had any impact on the exchange rate of the US Dollar. The United States Dollar is the strongest fiat currency in the world right now, and it is likely to remain at that position for the next few decades. The election of neither Trump or Biden is going to cause a change in ground situation for the cryptocurrencies.

The world is really watching the outcome of US election. Many countries have economic ties with the US. The dollar might decline before the election but expected to go upwards after the proclamation. Lets see how the election can affect bitcoin though, or it might not.

It may be conceivable that the US market is incredibly insecure during the hour of political choice.
The ups and downs of dollars cost may profoundly impact on bitcoins market.
During this time span, the vast majority of crypto lovers put away their cash.

regardless of who wins the election we will see more stability afterwards. Certainty is what people are hoping for during these uncertain times and anything that provides that will help the bitcoin price. Biden will provide little more certainity than trump so I do expect price to go much higher if he wins the election.

Well, If Trump wins the election, It also might help bitcoin to have a 2021 bull run. There are many factors involve, however as Trump favors the businessman and business, and the stock market, So It will have an impact. However personally I believe no matter what is the outcome of the elections, Bitcoin going to have a run in 2021. Let's see =)

The trade war between US and China made Yuan even stronger. During the pandemic, there were reports that China have bought a lot of stocks from the US and even in EU which gives a significance that they're in the correct position and assumption that they have the strongest currency by this time. Well, it wouldn't last, when things settle and the world goes back into normal, they'll lie-low. The pandemic made their position better than the rest of the world's strongest currencies.

I think saying so blatantly as this that US presidential elections won't affect the price of BTC is a little understated.
Because of the mere fact that there will be this transfer of power or at least the potential of it the economy of the US will be more unstable and with so many investors relying on the USD and a large share of crypto being USD based volatility is inevitable.

Whether this is going to be upwards or downwards is still not certain but having seen how the BTC market and crypto has been lately for good reasons the former seems more likely, at least until early next year.

Well we have to take into consideration that US is no longer the super power like 10 years ago, China has been its biggest threat and US lessens its impact on the world economy. If Trump wins, probably just the same, maybe a few pump in the price, but if Biden's win then there's a lot of uncertainty. I will leave here a quote from Theymos and what he sees:

A currency that is controlled by the state, what a surprise, a currency that goes up or down when the CCP wants so.
The moment the yuan is going to be too strong against the Euro and the $ and counting the devaluation of other countries that are starting to compete with China on exports to the western world with lower wages than them by miracle the yuan will again tumble, as they did in 2015 and in 2019. At least with other currencies, things are predictable based on what's happening in the world, with the yuan it's like trying to guess the lottery.


Nothing will happen, nothing sharp and nothing dull.
Just like when Trump was elected and people thought wow, the end of the world is going to come, nuclear war, blab la bla, and in the end, nothing other than scandals really happen, not even in their own economy anything out of ordinary or a major change, why would the election affect bitcoin price? No candidate has a real agenda pro or against it, and even if they had, it's not like the president is all-mighty and can decide everything himself, assuming they will try something in both directions it will take time, a lot of time.
In terms of price change I see the election as totally uneventful and if there is going to be a move when the results are announced it will be a tiny short-lived one caused by traders speculating

it is very strange that you have such certainty about this! specially when nothing is certain in bitcoin market. not to mention last time there was a US election it had no effects on bitcoin price whatsoever and there is no reason why this time should be any different.

We might be surprised that the election will come and go but no major movement of price will happen. I'm not expecting the price move as people are predicting it to be but it will be safe if we guide our investment. If I had no investment, this time I will stay off and watch.

Either way, there would be a sharp bitcoin affectation, whether good or bad

It seems to me that one should not rely heavily on the fact that Bitcoin will fly to the moon as a result of instability during the presidential elections in the United States. Some growth is possible, but I believe that this year, even despite the elections, the price of bitcoin will not exceed $ 16,000.

well the other says last presidential debates the price of Bitcoin goes up higher and there are also saying that it may happen now because there is a potential
 bullrun from the effect of Bitcoin halving this year.
anyway all of those are only Speculation and still future will tell what will happen.
Is Biden pointing about putting taxes and another regulation against crypto currencies?

I guess there are more chances for pump after the US election, I agree the price may not be impacted but if Trump wins this election it may lead to a stronger bull run.

If in case Biden wins there are possibilities of downfall too because of taxes and regulations on crypto. Well depending upon the outcome of election result anything is possible.

The election will clearly be influencing Bitcoin price (as well as other crypto) but it'll be a short-term impact. Anyway, I'm buying as much $BTC as I can before the Day. It feels way safer.

I don't think you understand my point. I'm on about the impact of the election on bitcoin

I think whoever the 2020 US election winner will not affect the Bitcoin market. And there really is no connection between
the US elections and the Bitcoin movement. As we all know Trump is anti-Bitcoin, but that doesn't mean if Biden wins the
Bitcoin price will go up. But US election is possible to affect the USD rate, even if the USD goes up or down, it still can't
affect the price of Bitcoin.

In purchasing power, USD is no doubt becoming weaker and losing more purchasing power. If you look into the foreign exchanges, USD became cheaper because of the trade war and with the injection pump that their government just did, added flavor to the inflation which made their currency weaker. But I don't believe that it's going to last, just like the financial crisis more than decade ago, they've recovered.

Trump isn't anti-crypto,he doesn't care about cryptocurrencies,I know that he had several statements about Bitcoin,saying that BTC has no value,because it is created "out of thin air",but despite those statements,Trump just doesn't care about cryptocurrencies.
On the other hand,there's no clear evidence that Biden is pro-crypto.
Anyway,the US presidential elections might have some positive impact over the BTC price,but the impact will be only short term.

US election is approaching, many campaign is on going for the candidate of each party in the country. Trump is seriously busy to improve the economy of the country so that the citizens will support his re-election that is coming up soon.
Biden which is opposition party contesting with Trump promise the people of US if he is elected as a president of US within 24 hours he will put an end to Corona virus that is killing the citizens anyhow in the country. Biden is seriously spending dollars to the citizens to convince them to vote for him in the coming election.

I think the president of US, is well ready to produce more dollars that Will sustain the country 2020 and 2021 for the citizens not to find it difficult to make use of dollars that is be controlled by the government. Many people are worry about the dollars the government want to spend for this coming election that if care is not taking cryptocurrencies will now be the one controlling the market instead of dollars which is centralized .

I guess you aren't comprehending the OP that well. OP tells us that the US election would have a huge impact to the crypto-space. Whomever wins the race, Bitcoin and crypto market would remain the same. It's just funny that people especially Americans think that they can manipulate the vast crypto community and its prices. Also, How can you say that the US Election affects world economy? So if my local country would have a presidential election, that means we can somehow change the economy of the world even a little? That doesn't have any proof nor whatsoever.


Yah by strongest meaning that it was so stable ever since in many countries. Also, USD isn't really getting that weaker in the fiat aspect, but weaker in the crypto exchange. But in fact, the pandemic made a huge impact to the US economy, so with or without elections, USD will gradually recover.

The up coming election in USA is normally affect the world in economy, either in negative or positive way of the market price, which we are focusing on the cryptocurrency, is not control by any government, because cryptocurrency is a decentralized currency. Which can not be predicted at fixed amount price.

I don't think these effects can be reasonably predicted. Firstly, I don't see how the elections are going to trigger the dollar's devaluation. I mean, there were already some risky decisions made in 2020, and the expenses related to the elections won't all magically add up to make an impact specifically on the election day. Moreover, those voting for Trump are probably okay with what's currently going on, while those voting for Biden have hopes for the better future, so I don't think much FUD will come into play.
Finally, even if USD goes down, there is no way of knowing how BTC price will behave. It might go up as you said, but it can also go down because we usually evaluate BTC price in USD, so BTC might follow USD.

AFAIK, Chinese Yuan is the strongest these times. But how would that happen, there's a consensus that it's already been set for USD/BTC. In some exchanges, this isn't a problem. But pushing bitcoin to be denominated in another currency, that would be the least that I'm thinking. Although, it's a fact that you have stated that USD is getting weaker. However, we'll gonna see it recover maybe after the elections or when this pandemic ends.

I don't know about the American banking system and its criminal records. And I definitely don't know much about illegal activities. However governments everywhere retain a certain level of antagonism towards bitcoin, which is understandable

Remember we aint talking about the most peaceful countries. I talked about one of the greatest nations
Anh oh, you deviated a mile off. Thanks for your contribution anyway

It seems that all fiat are getting weaker and weaker. There is the EURUSD pair and the dollar was weakened lately to the euro but this doesn't mean that Bitcoin's price wasn't up in EUR. All fiat are weakingin with time because of inflation. They can last a hundred years or two hundred years but eventually they fall and monetary reassesment is required.
Price has been going up in EUR and in all national currencies. The dollar hasn't collapsed, at least not yet, and euro policies has been more strict.

Nice to get Bitcoin get bumped up with a lot of dollars but maybe it's time to start denominating BTC in another currency like maybe Swiss franc or Euro?

I mean what's the point of USD price going up if USD is getting weaker and weaker right?

it is not about greed per se, it is mostly about having intrusive laws and wanting more power and control verging on being a dictatorship. usually level of corruption in government, wealthy elite controlling the country and specifically the banking system plays an important role in what the country's stance is towards bitcoin.
for example almost all the negativity we see coming from US is coming from their banking system, the same corrupted banking system that crashed the economy back in 2008 right before bitcoin was created. the same corrupted banking system that is regularly caught laundering money and has a hand in drug trafficking and lots of other illegal activities! and that's not going to change with changing president.

Lol! Who said that? USA is one of the most dangerous countries for the foreigners considering the number of crimes happening there every single day! People want to flock to US just because of money but not for peace most certainly! That doesn't make them the greatest country on earth. 

Are you aware of the "Global Peace Index 2020"? You can get it from the below link,

http://visionofhumanity.org/app/uploads/2020/06/GPI_2020_web.pdf

As per this index, United States of America stands at 121 in Global Peace Index. There are hell lot of African countries that are way ahead of USA in peace index. In money becomes everything for you, you can stay even in the most hostile territory of the world. But if you want to have a great life, USA shouldn't come within the consideration.

Apologies for deviating from the main topic, but I thought it is necessary to reply!

You may have a point, but remember some countries are more crypto friendly than others. Does it mean those governments are less greedy?

you haven't seen a real "anti-crypto stance" yet to know what it really is. otherwise governments not liking bitcoin and wanting to force more regulations, restrictions, taxation and most of all invasion of privacy is not new specially for US government no matter who is in the oval office. and that's not just bitcoin or cryptocurrency related they want full control on everything and want their hands in people's pockets again no matter who the POTUS is.

Yeah. American corporation giants reap billions from other parts of the world. That's the issue. But the debate is the effects of its leadership on crypto

Why do you think so? Remember Trump has an anti-crypto stance, and is not going to change anytime soon. Not on his second tenure

Well probably reason is, because it is, people from allover the world want to go to America.
People from all the world, send the American company's billions of dollars each week (Apple, Amazon, Google, Facebook and many more)

I think we’ll see a pump after the election. There’s lots of uncertainty in a lot of things in the world atm, I think Trump will win & then we have a settled leader. I think we’ll reach yearly highs in December.

My view is that the USdollar will be highly volatile during the time of election. Around two days to it, it is expected that the currency will have difference because of fear by traders who can't predict the direction of market. This same can be expected with bitcoin because of the influence of dollar in global market. Most trade revolves around the usdollar and bitcoin.

Lol! I am not sure why Americans always claims they are the greatest nation on earth! That's kind of funny as it seems like Americans try to reassure themselves by saying this!


I don't see that happening! A good percentage of American still believe that Trump's hatemongering will make their nation great again. So if Trump wins, mostly educated class people might want to jump into alternative assets like crypto or Gold or Silver just for capital protection. In that case, we may see some additional liquidity in the market which may drive the price higher. But if Joe Biden wins, Americans will hope that he will bring reformations to take the economy back on track. In that case, these additional liquidity may not flow into the crypto market. But whatever happens, it will be miniscule compared to the size of cryptocurrency market which is most unlikely to make a lasting impact.

Well, considering Trump has a particular anti-crypto stance, I think a Biden win would be a head-up for cryptocurrency

exaggerate much


this has mostly been advertisement for different parties. each side says if they win dollar will jump and if the opposition wins the world ends

bitcoin has shown that it is not affected by these things and it has proven many times that it is not even following different markets. lately people have been linking it to gold but gold has been tanking specially today while bitcoin rises. same with stock market.
election will be the same.

 In about 3 weeks time, the world would stand still for the election of arguably the greatest Contemporary nation on earth, the United States. Contestant Joe Biden and incumbent Donald Trump, representing the Democratic and Republican crowds respectively, would lock horns.
 This election has some serious technological and financial implications all over the world. Predictions have been rife with many thinking the dollar would tank hours just before the elections and jump if Biden wins. My focus is on assets like bitcoin and other crypto. Methinks bitcoin would take a moon hike as uncertain investors jump on assets not tied to any government influence(mostly, though we know there is some government effects).According to  Nigel Green,  CEO one of the world’s leading independent financial advisory organisations DeVere,  U.S. election will boost the price of bitcoin. “Bitcoin is already one of the best-performing assets of the year, up around 70% year-to-date,” And “We can expect the world’s largest cryptocurrency to be further fuelled for the rest of 2020 by the U.S. presidential election and the weakness of the U.S. dollar, which will serve as high-octane price drivers.”
I may be wrong but I want to know your views. What do you think?