The current fiscal policies of President Trump (Representative of the Republican Party) in terms of reducing taxes have benefited many companies in the United States.
Based on this, investors are very attentive to the electoral results that will define the assignment of the representatives of the Senate since, despite being the Democratic Presidential Candidate who is emerging as the next president, it is the Republican majority that is prevailing in the Senate.
Futures Market investors on Wall Street are betting on this Republican Senate victory and thus backing the possibility that current tax cut policies will remain in effect. For this reason, there has been a significant rise in the stock indices.
The policy affects the behavior of the Futures Market.
Perhaps the political results are also affecting the behavior of the crypto market?
The increase in the price of BTC corresponds to the predicted post-halving evolution or perhaps there are also large investments and purchases of BTC, which has contributed to this recent pumping?
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The crypto market could not be out of the effects of covid-19, why now would it escape from the political situation?
The surprise for everyone is that many analysts expected downward behavior in the Futures Market.
This shows us that in the crypto market we cannot define too rigid parameters for our projections and that we still have a lot to learn.
@juanmolina
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Definitely the coming weeks are going to be interesting. The democrats are also losing some ground in the house. Let us hope that the incoming President doesn't become crippled with inability to introduce policy change if the Republicans win both the House and Senate. Interestingly, however, it does give an picture of Republicans who are tired of Trump, but not tired of being in power.
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