Who wins the election is less important than just getting through it
For several months now, the presidential election has weighed on equity and crypto markets...
Probably more so equity markets, but lately what has been good for stocks has also been good for bitcoin and crypto.
Which means the election is impacting both equity markets and the crypto markets.
However, the election is starting to finally move behind us, though the outcome isn't entirely known at this point.
The important thing is that we are getting through it.
The Democrats will retain control of the House and it looks like the Republicans will retain control of the Senate.
Which means a blue wave is off the table and the higher taxes (including a doubling of the capital gains tax) that were likely to come with it are also likely off the table.
Which is a good thing as evidenced by the 700 point gain in the Dow as well as bitcoin solidly breaking through $14k.
What comes next?
The reason it doesn't really matter who wins is because a couple things are coming regardless of who wins.
The first being stimulus.
We are going to get a stimulus package in the very near future no matter who the president is, the only debate is how large that package will be.
In fact, the previous and still likely Senate Majority Leader McConnell is already calling for more aid before year end:
The second being a vaccine and better treatment.
There are more than 10 companies currently in the final phases of covid-19 vaccine development.
The idea is that we are going to have at least one of them available by the end of this year and the other by early next year.
Either way, we are going to start beating this virus back by early next year.
When you combine the removal of uncertainty with another round of stimulus with a beatback of the virus, we get booming asset prices.
I suspect bitcoin will be making new highs by the end of this year if not, it will be very early next year.
Who is in the white house is less important than just getting past this event.
Stay informed my friends.
Image Source:
-Doc
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As usual I agree about Bitcoin going up. But the rest of your conclusions...
Oh well...can't win em all I guess.
Which ones specifically?
Vaccine and stimulus mainly, but the idea of anyone really winning the selection process is another bucket of worms...
What about them? You dispute that they are coming or that they will push asset prices up?
I think uncertainty has a few people dumping into BTC but after the results are in we should see a retrace as confidence comes back. I do think either way they going to do massive money printing so the trend over all will be bullish for Bitcoin
Yep, my thoughts as well.
Thanks for the information
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Once there is a clear winner, the markets are going to skyrocket, although Bitcoin may go back down. At this time it looks like Biden may win with 290 votes, but even if Trump takes it then the Markets will probably act the same. Markets just don't like uncertainty about anything. As for the vaccine, there's definitely going to be protests against forced vaccination when the time comes from that crowd, and markets aren't going to like that either.
They can protest all they want, there are treatments as well. That or they can just keep their children out of school.
Thanks for sharing your opinion
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Two candidates racing with Harley Parkinsons trying to prove the other candidate to be more demented... It's like prime-time comedy show...
I'm already seeing people posting meme videos of losing candidate with the hilarious "I fucked up!" audio on TikTok...
Winning candidate gets the "Good Morning!" audio...