There's so much FUD powder around BTC and stocks markets these days as we approach the US elections and how the outcome of these elections will affect the price of BTC and the swings the stocks markets. In my personal and amateur opinion, no matter who gets elected the impact will be absolutely insignificant, from a macro perspective of course.
One narrative regarding the BTC dump that might follow after the elections is that the new president might cut the stimulus payment Americans are supposed to receive this fall or winter, as a helping hand in the middle of this Corona plandemic and this seems to be fueling some FUD in the crypto space. Well, the way I see it, folks that rely on such stimulus and would be affected by it being cut don't probably won't invest in BTC in the near future, and haven't done that for the first stimulus either, those guys are for sure no crypto guys.
And... isn't it clear yet who's buying BTC lately?
It's financial institutions, large players and whales, and they do that on large chunks of it... it's not the average Joe buying McDonalds with stimulus money that will get himself a small portion of BTC on the way out, and together with a few other millions average Joes will boost the price of BTC. Common people, isn't it clear yet... And lets not forget that Bitcoin is a world wide assets not an US one...
Don't want to offend any American lion or hiver in here, but the whole world is actually not spinning around the US. Of course, it has an impact on the markets and the world's poslitics, but lets not forget how powerful the buying power was from the Korean side during the 2017-2018 bull market. Again, it's a world wide traded asset and its traders are highly complex.
I don't completely take out the way from the equation the probability that the markets including the BTC and whole crypto market, will take a hit if the elections result is not in favor of the dumb money, but that hit, at least in the case of BTC, will be quite fast healed. This asset is skyrocketing towards $100,000 or so and there's no president to stop it. I guess neither Trump nor Biden won't even try and do that. Moreover, Wall Street loves them both... and Wall Street might be more heavily invested in BTC than we can imagine.
Bottom line, for BTC the way I see it, it doesn't really matter who's gonna get elected as president of the US. With or without the stimulus money, Bitcoin is poised to moon in a year or so from now. It's cyclical, it's magical, and I blame it's poisoning on the halving. I don't even care from where the money will come into crypto, although it's clear that this cycle is going to be led by financial institutions FOMO, what's important is that we're in the early stages of another crypto bull market and one year from now some folks will be way richer than they currently are.
Whether you and I will also be in that position is entirely on our own to decide. My personal amateur piece of advice is to not fall for fake crypto prophets, especially for the god damn news outlets and their garbage analysis on the markets, so you won't sell your crypto for peanuts money. It's really not the time to FUD. Even if we'll have a small dump short term, it's a natural bump in the road the way I see it, and from a macro perspective when we'll get to the peak that bump won't even matter... Trump, or Biden, it doesn't matter. Two puppets anyway, don't sell your BTC cheap though, you will for sure regret afterwards.
Thanks for attention,
Adrian