Will Bitcoin Be Affected by the US Presidential Election?

Will Bitcoin Be Affected by the US Presidential Election? Will Bitcoin be affected by the US presidential election? How are the election results reflected in the Bitcoin price? We will get answers to these questions from two crypto analysts BigCheds and CryptoWendyO. The two analysts shared their insights on the subject from their Twitter accounts. Here are the details;   BigCheds uses the following statements on the subject: “I don't see much of an impact on the prices of cryptocurrencies if we get a clear winner and an easy process. On the other hand, if a close or contentious election occurs, we can see a jump in assets like gold and Bitcoin. '' CryptoWendyO, on the other hand, said, “This election year is definitely different from what we have seen in the past due to the epidemic and global economic problems. It can be assumed that with an event like Covid, Bitcoin will rise due to financial market uncertainty, but such a situation did not occur.” WendyO, who commented, “The tensions regarding the elections are very high ...”, thinks that money is needed for the development of the markets and that this may not happen while middle class citizens hold their capital. In the current situation, the US public is complaining that the government has failed to reach an agreement on economic support packages and thus reacted to the Trump administration. In addition, main markets and cryptocurrency markets are also very worried about the suspension of negotiations on the stimulus package.   Regarding the matter, WendyO said: “After the election, I believe we will see a change in the Bitcoin price as we can get more insight into when the economy recovers. My hope is that this move is up, but we should also consider the current price action.” On the other hand, Bitcoin price surpassed $ 11,000 when news spread that Twitter CEO Jack Dorsey bought $ 50 million of BTC to his company. Although this will be good for the markets, it will be necessary to wait for the elections to see what happens next.