Bitcoin Wasn't the Only Digital Currency to See Post-Election Bounce
The surprise US Presidential Election results pushed bitcoin 4% higher this week amid a choppy period for the digital currency markets. After opening at roughly $709 on 4th November, bitcoin neared $740, placing it within reach of its 2016 high of more than $780. But while this increase was notable, it fell short of some forecasts. Cryptocurrency fund manager Jacob Eliosoff, for example, noted that he expected bitcoin prices to benefit more starkly from the uncertainty created by the election. As previously profiled on CoinDesk, many analysts had expected a 'Brexit-like' impact, one in....
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While the United States prepares for the results of the 2020 Presidential Election, a number of data points and traders expect some significant cryptocurrency price fluctuations this week. Statistics from skew.com show bitcoin’s 30-day implied volatility has increased to 59% while 3-6 month stats jumped over 62%. The digital currency economy is hovering at around $388 billion, which is a giant jump from where it was during the last U.S. election in 2016. For instance, during the 2016 presidential race, the price of bitcoin (BTC) was around $709. Since then the crypto-asset BTC has....
In this episode of Fed Watch, the hosts discuss what the U.S. Presidential Election means for Bitcoin. The post Video: What Does The U.S. Election Mean For Bitcoin? appeared first on Bitcoin Magazine.
A parliamentary hopeful running in Canada's upcoming federal election says he wants to give bitcoin an equal footing with the dollar. Alex Millar, a former maths teacher and software engineer, claims to be an independent candidate running for Vancouver East. In a post on Straight.com yesterday, the bitcoin enthusiast said he decided to run to highlight an issue the major parties were ignoring: money creation. "Canadians enjoy freedom of speech and freedom of religion, I'm running for for parliament because I believe we need freedom of money," he said. The candidate, who does not currently....
More than 100 members of our community offered their U.S. Presidential Election hopes and predictions. How do they think Trump or Biden will affect Bitcoin? The post Bitcoiners Weigh In On The U.S. Presidential Election appeared first on Bitcoin Magazine.
Not saying that the US election results could impact an independent market like Bitcoin, one can still see digital currency traders mirroring stock market traders’ cautious take. Traders might want to take a break as the race for next presidential election gets tighter with each passing day. The world’s leading markets, namely S&P 500 (-2%), Dow Jones (-1.5%), Nasdaq Composite (-2.8%), have encountered a short burst of volatility, illustrating how speculators are giving too much weightage to pre-poll readings. These are, however, just cautious parameters amid uncertain....