Bitcoin is all set to deal with the outcomes of the U.S. presidential elections this week. Speculations are going that whoever wins the elections, it will be overall good news for the cryptocurrency. Bitcoin, a Safe Haven Asset Investors are all set and prepared on what will be the effects of the campaigns as the global market is set for a new turn. Amid the ongoing election campaigns, the Dow Jones Industrial Average faced a hitch since the pandemic while Bitcoin’s performance had been quite upright. With the massive economic and financial instability in the global market since the pandemic, Bitcoin was trusted as a safe haven asset alongside gold. In October alone, the price of Bitcoin went up to 30%, last seen during the crypto market of 2018. Just this week itself, Bitcoin shot up over 5%. There has been a significant increase in Bitcoin investors too. Bitcoin, the Ultimate Winner, in the US Presidential Election The ongoing elections of this year have seen the highest turnout of voters from this century. Currently, Joe Biden is leading the national polls over the current US President Donald Trump. Several experts are having diverse views on the probable outcomes of the US elections resulting in the prices of Bitcoin. Some say if Donald Trump takes the presidential chair, Bitcoin prices will moon up. The stock market will also have benefits along with the crypto market industry. Some believe that if Biden wins there will be a notable depreciation in the entire stock market, leading to a depreciation in the dollar value. In the end a win for the Bitcoin market. To put it simply, whoever wins the elections, the result will be overall good news for Bitcoin. Eventually, the largest cryptocurrency by market capitalization will emerge out as the winner in the battle between the presidential elections between Trump and Biden.
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