The US presidential election is a significant event with far-reaching consequences, not just for the United States but for the global economy as well. As the 2024 election approaches, with Donald Trump potentially facing off against Vice President Kamala Harris, the effects on various economic sectors, including the cryptocurrency market, are increasingly scrutinized.
The cryptocurrency market is particularly sensitive to geopolitical events, and the US elections are no exception. Bitcoin, along with other cryptocurrencies, tends to experience increased volatility during election cycles due to its decentralized nature and its growing role as a hedge against traditional financial systems. Investors closely watch the stances of leading candidates on regulations concerning cryptocurrencies, with the possibility of more stringent regulations under a new administration often leading to short-term market corrections.
For instance, the 2020 election saw Bitcoin prices fluctuate as candidates’ positions on digital assets became a focal point for investors. A similar trend is expected in 2024. If Donald Trump, known for his critical stance on Bitcoin during his first term, re-emerges as a strong contender, there could be renewed concerns about potential regulatory crackdowns. On the other hand, Kamala Harris, though not particularly vocal about cryptocurrency, represents continuity with the current administration, which has taken a more cautious approach to regulation.
As the race intensifies, market analysts predict that a Trump vs. Harris contest will bring heightened volatility to the financial markets, including cryptocurrencies. A Trump victory could spark fears of increased regulation, potentially dampening market enthusiasm. Conversely, a Harris win might maintain the status quo, with gradual progress in crypto regulation, providing a more stable environment for growth.
In conclusion, while the exact outcomes remain uncertain, the US elections will undeniably influence the global economy and the cryptocurrency market. Investors are advised to stay informed and prepared for potential shifts as the election date approaches.
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BITCOIN PRICE JUST SURGED TO .9K, IS K BTC NEXT? | Trillion Crypto Market Cap By 2023?
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Bitcoin Price Surges Past $9,900, Leaving Many Asking What’s Next?
After stagnating around $9,650 for some 36 hours, the BTC price surged as high as $9,945 in minutes.
This rapid 2% gain from $9,700 liquidated a mere $15 million worth of short-side positions on BitMEX.
As this move just took place, analysts have yet to formulate complex responses to the price action, though there are some already trying to extrapolate what Bitcoin’s 2% surge means for its short-term outlook.
Mexbt, a popular trader, noted that the cryptocurrency, having broken out of a short-term ascending triangle in this recent move, has a measured target of around $10,220 – 3.2% above the current price.
Notably, Bitcoin (BTC) has yet to confirm a four-hour close above the ascending triangle Mexbt drew, though there are good chances it will, setting Bitcoin up for such a move.
There’s also a new chart from Josh Rager, a well-known investor and content creator.
In this chart, which was accompanied by another one posted to Rager’s Telegram channel, the analyst largely implied that the cryptocurrency could head towards the top of the range just above $10,100.
A close above the range could set the stage for a move to fresh local highs above $10,500.
There’s also HornHairs, who wrote that Bitcoin is currently up against heavy resistance at $9,900, Monday’s high and the weekly open.
Though, he remarked that as long as $9,500 stays intact on a daily and weekly basis, he would be inclined to suggest that a move to $10,200, then to $11,000 will take place in the coming weeks.
CAN THE TOTAL CRYPTO MARKET CAP HIT $10 TRILLION BY 2023?
Popular YouTube crypto analyst, Benjamin Cowen, has been considering the logarithmic regression band for the total cryptocurrency market cap in his latest video, and based on his analysis, thinks that the total digital asset market cap could hit $10 trillion during the next bull run.
At current Bitcoin dominance levels, a $10 trillion total crypto market cap gives a BTC price of around $330,000, so that’s something to look forward to.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
$BTC Macro Update:Price up against Monday’s Hi & current Weekly Open here at $9.9k. Again, as long as $9.5k weekly support & 1D bullish structure holds I expect the party to rage on to the upside. $10.2k then $11k.
Until $9.5k breaks on a 1D close, life is easier as a bull. pic.twitter.com/o5hO9xLCC9
— HornHairs 🌊 (@CryptoHornHairs) February 23, 2020
Volume in February is continuing to shoot up. That’s historically a really good sign about the market. It’s almost at the same level as in May now pic.twitter.com/QSDtiMp3sE
— Larry Cermak (@lawmaster) February 20, 2020
https://www.newsbtc.com/2020/02/23/the-simpsons-just-ran-bitcoin-segment-crypto-twitter-raving/
https://www.newsbtc.com/2020/02/23/bitcoin-bulls-eye-10000-market-weekend-recovery-upside-possible/
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NEW DATA SUGGEST BITCOIN ‘DOUBLE BUBBLE’ TOP IN 2021 – BTC IS GOING TO $200K!!!!!
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Bitcoin is facing a “double bubble” and will see two BTC price tops this year, fresh data suggests.
In a tweet on Wednesday, Charles Edwards, CEO of investment firm Capriole, highlighted 2021 as having one key similarity to the 2013 double top bull cycle.
“New evidence for a Bitcoin double bubble,” he summarized.
“In prior cycle tops, bounces were never able to hold unrealized profit and loss above 0.5. Only the 2013 double bubble and today have achieved this.”
In other trending Crypto News today: Facebook’s David Marcus calls for “fair shot” at crypto payments.
In a newly published Medium piece titled “Good stablecoins, a protocol for money, and digital wallets: the formula to fix our broken payment system”, Facebook’s crypto pioneer David Marcus shared his views on topics of economic inequality, regulatory challenges and Novi’s proposed stablecoin solution.
“Here at home in America, … our payments infrastructure is arguably the worst of any developed country in the world, and increasingly falling behind, while China is moving with determination and haste to build an infrastructure that will make the digital yuan a challenger to the dollar as the world’s reserve currency.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
https://cointelegraph.com/news/facebook-s-david-marcus-calls-for-fair-shot-at-crypto-payments
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K BITCOIN PRICE TARGET ‘BEFORE’ GOING PARABOLIC!! RICH DAD AUTHOR ROBERT KIYOSAKI BULLISH ON BTC!
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Popular Cryptocurrency analyst CryptoBull says the Bitcoin price is heading to $33K by July ‘BEFORE’ the BTC price goes parabolic.
He shared the following bullish Bitcoin price prediction on Crypto Twitter to his 156.5K followers…
“Alright… let’s stay realistic here… $33k by july… and then we go parabolic”
The keyword here being ‘REALISTIC’ which you have to respect.
Another popular Crypto analyst ‘Lark Davis’ tweeted the following:
“Quick reminder that the price of Bitcoin went from $11,000 to $20,000 in 14 days back in 2017. This market is a powder keg!”
In other trending Bitcoin News today:
COVID-19 Vaccine Will Spark Bitcoin ‘Crash’ – Rich Dad Poor Dad Author
Bitcoin (BTC) will “crash” when the world finds a coronavirus vaccine that works, popular author Robert Kiyosaki claims.
In a tweet on Sep. 15, Kiyosaki, famous for his book, “Rich Dad Poor Dad,” warned that a functional solution to Covid-19 would send safe-haven assets plummeting.
“What happens when vaccine is proven? Gold silver Bitcoin will CRASH. Buying opportunity. Real problem NOT Pandemic. Real problem massive US debt. US Bankrupt. $28 T balance sheet debt. $120 T off balance sheet social obligations. Gold silver Bitcoin best investments long term.”
Continuing, Kiyosaki argued that the virus was masking the “real” issues at stake for the United States economy in particular.
With $26.7 trillion in debt according to monitoring resource U.S. National Debt Clock, much of which appeared via stimulus measures since Covid-19 hit, the country is now “bankrupt.”
The argument in favor of long-term investment in Bitcoin has become more and more public since March’s cross-asset market crash.
Despite current strength, the U.S. dollar is broadly seen as being in a downward spiral which will only worsen thanks to Federal Reserve policies — also ostensibly intended to counter coronavirus fallout.
The U.S. dollar currency index has buoyed Bitcoin and gold in recent months, underscoring inverse correlation which remains a major consideration for traders.
On Wednesday, the Fed is set to deliver fresh comments on the future of its market participation, further raising the prospect of dollar volatility.
Another trend highlights increases in BTC/USD as the debt amassed by central banks worldwide ballooned this year.
Kiyosaki meanwhile remains an outspoken supporter of Bitcoin, whatever the weather.
In August, he urged Twitter followers to buy the cryptocurrency before a “major banking crisis” appeared.
Dollar weakness and Fed meddling in the economy likewise formed the impetus behind his advice.
Warren Buffett exiting U.S. banking investments and buying gold was another alarm bell for the author.
“What’s Warren Buffet doing? Warren Buffett has a huge cash position, he’s recently moved into gold stock, which is a very different kind of investment than he’s used to making over the past decades, and as of this week he’s now got a big position in Japanese stocks,” RT host Max Keiser, who often presents similar conclusions about the economy, continued in an interview this weekend. “He’s getting out of the dollar; I think that’s pretty clear. That should be a red flag to folks out there — that one of the world’s most successful investors is getting out of the dollar.”
Also in August, Keiser forecast that Bitcoin would hit a new all-time high in the near future as the current economic situation plays out.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
% of world using the Internet in 1995 = 0.5%% of world using the Internet in 2020 = 60%% of world using Bitcoin in 2020 = 0.5%⁰⁰
What do you think the price will be when 60% of the population is using Bitcoin?
— Dan Held (@danheld) September 18, 2020
What happens when vaccine is proven? Gold silver Bitcoin will CRASH. Buying opportunity. Real problem NOT Pandemic. Real problem massive US debt. US Bankrupt. $28 T balance sheet debt. $120 T off balance sheet social obligations. Gold silver Bitcoin best investments long term.
— therealkiyosaki (@theRealKiyosaki) September 15, 2020
UNEMPLOYED BANKERS. Did Buffet dumping BIG BANKs signal end of banks? Is crypto US dollar next? Will crypto US $ mean more loss of freedom & privacy? More Orwell’s 1984 BIG BROTHER? Will Fed replace bankers? Is Fed Big Brother? More reasons to buy gold silver Bitcoin now.
— therealkiyosaki (@theRealKiyosaki) September 17, 2020
https://cointelegraph.com/news/covid-19-vaccine-will-spark-bitcoin-crash-rich-dad-poor-dad-author
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