A Joe Biden/Donald Trump victory in November does what to the price of Bitcoin?
The most controversial election in my lifetime will likely have a tremendous impact on the price of risky assets, including bitcoin
We are now less than 2 months away from perhaps the most controversial election in the last 40 years.
Given that backdrop, it makes sense to expect that the outcome may have far reaching impacts on stocks, gold, and probably bitcoin.
If Joe Biden wins there is likely to be an increase in taxes across the board and we are likely to see Donald Trump challenge the results and claim voter fraud as well as the election being stolen from him.
The fallout from which could last for months post election.
If Donald Trump wins the exact same thing will happen as well. Mostly spearheaded by the BLM movement which will not accept anything but a Donald Trump exit from office. And we've already seen the lengths of protesting and rioting that this group will go to, can you imagine what might happen if Trump were to win again?
That being said, let me know your thoughts below on what a Biden or Trump presidency means for the price of risky assets, specifically for bitcoin.
My thoughts...
Based on how efficient markets tend to me and based on how the polls have looked for months, I suspect that the markets are mostly pricing in a Joe Biden victory.
That includes higher taxes for corporations and the wealthy.
Which also means investors are thinking that a Biden presidency would be good for gold and bad for the dollar as that has been the trend fro months now.
That being said, I suspect stocks could struggle with a Biden victory, specifically because the narrative that we seem to be getting from the left is that of more social programs and more help for the underprivileged and poor.
On the other side, a Trump victory likely shocks markets, which would probably cause some panic initially, especially with all the rioting and turmoil it would cause.
However, I think stocks would start marching higher shortly after as he has been very good for the stock market over the years cutting taxes and seemingly favoring capitalism.
And if stocks go higher, it probably means bitcoin goes higher as well as it has been more correlated to stocks over the last 6 months than any other asset.
I think if either candidtate becomes president bitcoin will do well. Trump is more likely to try and ban it than Biden is in my opinion but both candidates will likely see continuing money printing and devaluation of the dollar which will likely continue to be good for bitcoin prices.
What do you think?
Stay informed my friends.
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-Doc
A better question is what does civil war do for the price of Bitcoin as that will surely follow this soon to be cluster frack of an election.
Yep I could see that as well... scary times we are living in.
My biggest fear is a massive Denial of Service attack on the country or world internet. This would cripple all things, buying, selling, communication, medical treatment, everything and then some. This may become a new weapon , that has never been used before. Imagine the SCADA systems of cities or states going offline and hospitals unable to function, no clean drinking water, no electricity, no cellphone, no sewage treatment, no drivethough restaurants- Until the Internet is restored. We have become enslaved to the internet, in every aspect of our lives, slowly over time. Civil war could be easilty fought by crippling the internet and SCADA systems of large cities or states, until they capitulate to the demands of the overlords. All without a shot fired.
Its never been an "Election". Its more like a "Selection", by the wealthy elites. Irregardless of who wins, the thing they are working on right now is removing all paper currency and coinage, under the false belief that its existence spreads the corona virus. The new Federal currency will be digital, and this will be ushered in by the economic collapse of the US, with the Federal Reserve, waiting in the wings to save us with a new digital dollar, so all sales and transaction can now be tracked. Cash will be the currency of criminals, in the near future. Look at how India has done this with there large denomination of banknotes. Soon there will be no paper money or coinage, and the elites will decide if you can buy that gallon tub of ice cream, knowing that you may have a weight problem in their elaborate databases, with the help from Facebook, et/al. Walmarts in Florida are now only taking debit or credit cards, and if you pay with cash, it must be the exact amount, as there will be no change given back. I have experienced this myself. I believe it was Stalin who said "The polling booth is a suggestion box for slaves" and Lenin said "It doesnt matter who you vote for, What matters is who counts the votes". And finally, The Mayer Rothchild said "I care not who's army is in control, as long as I can control the banks and banking, I control the country".
Very good points and you are probably correct in this. Where do this leave bitcoin your opinion?
On a side note, it's much more than just Walmart where I live, no one accepts cash at all, period, since the pandemic began.
Bitcoin is worldwide, and established since 2008. It has the CONFIDENCE, that the US dollar is losing.
Sure, but will that confidence remain should some of the largest countries in the world try to ban it in order to save their own fiat(or possibly digital by this time) currencies?
It would be difficult to ban it, if the confidence of the currency was high. When times become uncertain, people seek certainty, stability and reliability. The chinese Yuan and Russian Ruble are both good examples. lack of confidence in their own currencies is what makes the dollar the main currency. Retired military personell in the US recieve over $3000 per month, and no one would want to do anything to adversly affect that. While in china and russia, retired military recieve a paltry stipend, and are left with only their medals and uniforms, and stories of their past glory, with little money to survive on. This is what drive the corruption in both countries. Its also why americans have no problem spending 30 yrs of their youth and lives in the various branches of military, for the remainder of their lives they are paid more than regular workers. Its also why women seek out retired military men from the US, for the financial and medical retirement benefits. This confidence, a form of psychological conditioning, is what drives the confidence. China has a terrible record of taking care of its retired generals, etc, so they are forced to commit bribery and other vices to survive. russia takes a little bit more care of its military, but not much.
Interesting. I had no idea the amounts of the payments. Are you retired military?
No. I preformed contract work for various facets of the military and Federal Govt, but was unable to join, due to medical reasons. Have you ever noticed how many philipino women marry US servicemen? Its because of the guaranteed pensions and medical benefits. $3k a month is usually what retired enlisted personell recieve. Officers recieve upwards of $7500-$12000 per month, dpending n years of service and rank. The people doing the heavy lifting get paid the least, those that graduate from West Point et/al, who make it past OCS and do 30-40 yrs will get at least $10k a month, Provided they have no negative disciplinary actions durng their time of service. I have worked with retired Navy, Army, USAF personell on civilian jobs and projects, and their retirement is often higher than their monthly salaries.