Crypto Trader

How the US Elections Have Influenced the Price of Cryptocurrency

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Digital currencies have changed the world in many different ways. The number of businesses that accept crypto-based payments is growing. On the other hand, the number of people that use them for trading purposes is improving as well. People have become aware of the benefits different digital currencies bring.

Yet, becoming a successful crypto trader is a challenging task. People need to go through a couple of stages before they reach their goals. Before everything, they need to get familiar with all the digital currencies that exist, their features, potential, etc. Despite that, they need to use every possible tool that will improve their performances. A good example of that is different software solutions that provide people with useful data, insights, and statistics. If that seems like a legit way to improve your trading skills, we recommend you click here.

Predicting certain things on your own can be challenging. For beginners, the tools we previously described are an excellent choice. Many different things can influence the price of Bitcoin. That especially counts when we talk about some important happenings in the world that influenced the entire world. One of them is the US elections without any doubt.

Analyzing the way how the US elections have influenced the price of Bitcoin requires in-depth analysis. We primarily need to go back to 2012 and 2016 and try to predict certain things in that way.

Presidential Elections in 2012

In 2012, the price of Bitcoin was around $11. In that period, many digital currencies of today didn’t even exist. Because of that, we will use the most popular ones to make a proper comparison.

After Barack Obama was elected for the second time, things have not changed a lot. However, things have changed only one year later. In 2012, the price of one BTC jumped to 253 dollars. However, we do not want to say the president Obama had something to do with that. The entire world was fascinated with the new payment method. Many investors targeted Bitcoin as an excellent investment option.

The only thing we can say is that the president never said a negative word for digital currencies. Obama was, more or less, neutral as well as other responsible financial authorities. No one probably believed the price of Bitcoin will be more than 40 thousand dollars 7 years later.

Presidential Elections in 2016

Many people will say that 2016 was the year when everything inside the US changed. Donald Trump brought different decisions that also influenced the price of digital currencies. We will use Bitcoin once again as an example.

Believe it or not, a couple of hours after the mainstream media confirmed the victory of Donald Trump, the price of one BTC jumped by 3.8%. More precisely, from $709, it reached $736.

There is a good reason why something like that happened. After Trump’s win, many investors were concerned about the stock market in the United States. That market started to look uncertain, and people were looking for a more secure place to invest. It seems that digital currencies were the option of many people.

Generally speaking, we can make one conclusion here. The happenings in the world do not directly influence the price of digital currencies. However, they do influence the decisions that people make. For instance, uncertainty in the stock market made the crypto market more attractive to people. They wanted to find safe assets that will help them control or improve their earnings.

So, What about Elections in 2020?

Source:bbc.com

Cryptocurrencies were not a focus of social media in 2020. People in the USA could hear only news associated with elections and pandemic. We primarily need to say that the beginning of the pandemic negatively influenced the price of Bitcoin. People were unsure what will happen and how long everything will last. That is the reason why many people sold their digital currencies.

Over time, the pandemic also influenced the strength of the dollar. It is not a secret that elections are also one of the reasons why the dollar has become unstable. Since May 2020, the value of one dollar has slowly started to fall.

Currently, the value of a dollar is stable, but it is not high. Things after elections did not calm down. For a couple of months, Donald Trump was claiming that he was rigged. That situation, once again, makes the stock market unsafe for many people. In one moment, everyone expected things will turn bad in America. Fortunately for people, something like that didn’t happen. However, the good news for crypto supporters is that the value of digital currencies jumped as well.

People were, once again, trying to find the best investing alternative. When the stock market seemed unsafe, many of them decided to invest in digital currencies.

We will once again use Bitcoin as an example. It is not a secret the most popular digital currency is making progress since the beginning of this year. On December 31, 2020, the price of one BTC was almost 29 thousand dollars. While you are reading this article, the value of one BTC is 51660 dollars.

It would be unfair to say that US elections are the only reason why the price of BTC jumped. After the elections ended, digital currencies appeared in mainstream media once again. Despite that, many people realized the pandemic will mess up economies around the world. The stock market is not the only one that has become uncertain. Fortunately, the decentralized virtual currencies looked like an excellent investment option. It seems that more and more people are becoming aware of that. Together with value, the demand for digital currencies is growing as well. The insights we receive today confirm the same trend will probably continue.

Source:britannica.com

Final Thought

US elections are a confirmation of one thing. Different events and happenings around the world do not directly influence the price of digital currencies. However, they do impact the decisions that people make. They make different markets more or less attractive for investing.

We still can’t claim that digital currencies will take over traditional ones. However, not being familiar with their features may be a big mistake. Without any doubt, they are our future.

6 Podcasts Every Crypto Trader Needs to Follow in 2021

Cryptocurrencies are getting more popular in recent years, which is not such a surprise considering the rise in values of some of the most popular options. This model of virtual money represents the future of transactions and offers many benefits when compared to the current financial system. For example, a high level of security and anonymous transactions cannot be intercepted or controlled by any authority. Also, you can avoid high fees that you have to pay in the banking system, which is especially good when you want to transfer the money to someone from another country. The ability to use an e-wallet for payments is especially useful for online services.

On the other side, one of the main reasons why blockchain technology and cryptocurrencies are so attractive to investors is because of the high volatility on the market, and many of them might bring them huge profits over time. The best example is BTC, which is reaching new records in 2021 with the current price of over $45,000. If you bought it only a year earlier, the profit would be ten times bigger now. If you are interested in trading with Bitcoin, visit btcloopholepro.com.

Source:afnor.org

Moreover, besides the BTC, there are many other trading options with great potential to provide you with profit over time, such as Ether, Monero, Dogecoin, and more. There are over 2,000 available units on the market. However, it is not so easy to select the right one since only some of them will continue to grow in the future. Also, you have to be aware of various factors that are affecting the prices of cryptocurrencies like supply and demand, efficiency, speed of the system, and global events like recession, official regulations, and more. Therefore, the best way to learn more about the whole market is to read analyses from experts or to listen to their podcasts. Here are some of the best podcasts related to the crypto market in 2021.

1. Hash Power

While most people have already heard about blockchain technology, many of them are not so familiar with this system and how it works in practice. A lot of people would choose to invest in popular trading options, but getting advanced knowledge about them could make the trading more efficient. Therefore, if you don’t know much about this system, we suggest you check one of the first podcasts related to this topic, the one lead by Patrick O’Shaughnessy, where you will get the basic knowledge about the technical details.

2. BTC Audible

Since Bitcoin represents the most popular option, we assume that you will be looking for a podcast that will explain to you more about the first digital asset. In that matter, you should look for Guy Swann and his Audible, where you can learn more about the advantages that you can get from using an e-wallet as a standard way of payment. The main advantage of this channel is that you can learn more about both technical specs and global factors that are affecting the future of this virtual currency.

3. The Pomp

Source:coinpedia.org

The host of this channel, Anthony Pompliano, will introduce you to big names who began to invest in the crypto market. The most interesting part is that you will find out about some successful people who were claiming that this market will never become stable and that investing in Bitcoin and other digital assets is not effective in the long run. However, many of them have changed their opinion. The most recent example is Elon Musk.

4. What Bitcoin Did

Source:blog.btcbox.jp

In this series, you will learn more about the rise of BTC and how it affected the whole market of cryptocurrencies. The main reason for creating the blockchain system was to find a way to avoid the banking system that was collapsed under recession in 2009. This topic is especially popular these days since there is a high chance for another recession caused by the lockdown measures during the pandemic.  Also, you will hear some examples where people managed to determine the right time for investing that brought them high profit. Peter McCormack, who is the host of this podcast, is also interviewing many successful people in this branch.

5. Unchained

Source:beincrypto.com

This is a great option for people who just started trading with coins and tokens. Laura Shin is a well-known expert, and she is interviewing many people with a lot of experience in trading. The main advantage is that you might find out more about some factors that might determine another crypto to have the same success as Bitcoin. Many people are looking for that option since there is a chance that some other unit could become even more popular in the future, and you should determine the right moment to invest in it.

6. The Breakdown

Since this podcast is brought by Coindesk, which is one of the most popular trading platforms today, you can get reliable information and the most recent news about the regulations, changes of value, predictions, security, and more. You should follow this channel more often since it is sharing all of the most important data about the crypto market. The host of this podcast is Nathaniel Whittemore.

Last Words

It is essential to get more information about any trading asset because that might improve your chances to select the right one and become more efficient as a trader. However, there is a big issue related to the crypto community where you can hear all kinds of stories. While some are predicting the crash of this market, the other ones are claiming how some digital currencies will reach some huge prices in the next few years.

Therefore, it is very important to follow only reliable people with a lot of experience with blockchain technology. In that matter, listening to these podcasts will help you to understand the potential of the blockchain system, what is causing the rise and fall of prices, and what can we expect in the future when it comes to this advanced method of payment.