And now horror stories from Eugene for those who keep the crypt before the elections.
Biden's victory in the 2020 elections is does not equal Trump's 2016 election victory. Trump cut taxes after rushing into power, which was a strong fiscal stimulus for the United States. Tax cuts, and in general, Trump's arrival was a green light for the US stock market, which made the dollar less attractive. As a result, we got 2017 (euphoria in crypt).
Biden's victory will be different for cryptas rosy as Trump's victory. Biden, as promised, will raise taxes (roughly speaking for the rich), which will lead to an outflow of liquidity in the future (and a rise in the dollar against risky assets, and BTC is a risky asset, since its capitalization is too small to be defensive). If a Democrat, in addition to Biden's victory, still manages to seize the Senate, then there will be no one to pump the US stock market, since the approach of Biden and Trump is different. Trump believes that the growth of jobs and the economy is carried out through the pumping of the Stock Market, the higher a company is in price, the more money they have, the more they produce and the more they use their forces. Biden will focus specifically on the US economy, and in this regard, we will see how the US economy with Biden will catch up with the Stock Market (which now, compared to the economy, flew into space), and then the Stock Market will continue to grow, and therefore BTC.
But, this does not mean that BTC will fall or notwill grow at all, just don't expect a sharp rise. And only for this reason, you need to be extremely careful in BTC, since the depression due to the pandemic can affect the Stock Market (already affecting) and BTC, after Biden's victory. The stimulus package will be a good growth driver for both the Stock Market and BTC, but after Biden's victory, the stimulus package could be a short-term driver for prices.
I believe that after the elections, BTC hasincentives will have a chance to rise above 16k, but again, growth can be very short-term, since without economic recovery, risky assets are unlikely to be pumped up.
🤔Yin the question that still baffles me:
Which will grow faster on the day of Biden's victory: the dollar or the US Stock Market (and BTC)?
So how, after the elections, Democrats and Republicans will immediately go to agree on the stimulus package! And here with Trump's victory everything is clear - Stock markets, but somehow not very much with Biden's victory.