How the BTC Market Changes Brought About By the Election?
The countdown to the U.S. presidential election of 2020 is ongoing, and the result will undoubtedly affect the future economic structure of the U.S. and the world. And it led to a surge in U.S. stock futures, which boosted overall market confidence and investment desire. For the cryptocurrency market, the prices of various coins will also be affected.
Regarding the economic proposition towards Joe Biden and Donald Trump, Biden advocates increasing the income tax on the rich and enterprises, the government’s intervention in the economy, and strengthening the supervision of financial markets. While Trump promotes comprehensive tax cuts, encouraging the return of manufacturing industries and employment, emphasizing the driving effect of economic growth on employment and income growth.
The market will fluctuate greatly because of the unconfirmed election result. If Biden is elected, Bitcoin should have a good increase due to his propositions. If Trump is elected, Bitcoin may first have a callback, after all, the US $14000 is already a historical rebound high. But in the long-term trend of Bitcoin is bullish. PayPal has announced that it will allow users to buy, sell cryptocurrencies, including bitcoin, which brought a great impact on the increasing price of Bitcoin. Meanwhile, many companies buy BTC due to one of its values, risk-haven. Trader’s confidence is greatly strengthened by the performance of Bitcoin.
And now due to the election, the crypto market’s risk aversion has continued to increase, which has also led to Bitcoin’s increase of nearly 40% in the past two months. As for the safe-haven precious metal gold that has been recognized by people all over the world, it has been volatile all the time. From this comparison, it is not difficult to see that Bitcoin has a higher rate of return than gold, so how do we trade Bitcoin?
During the vitality of the market, Bitcoin will bring more benefits rather than traditional investment products by considering its bullish feature.
If you have a higher risk tolerance, you could utilize leverage trading, which offers immense opportunities for you to make a handsome profit. Bexplus, a leading cryptocurrency leverage trading platform, even offers a 100x leverage. Even at times of great volatility, you can generate profits with the help of Bexplus. And its Stop Loss & Take Profit options could help you lower the risks and lock in profits.
If you are a prudent trader, then you may stop trading during the election and intervene after the market resumes and fluctuates slightly. However, you could still make profits in a stable method. Bexplus brings you the interest-bearing wallet in which you can transfer BTC to the wallet to get interest. The BTC wallet is an offline storage system encrypted with multi-signature technology. All BTC stored in the wallet will be highly secured and protected. Deposit BTC in the wallet, users can enjoy up to 30% annualized interests. For instance, you have deposited 10 BTC and enjoy an annualized interest rate of 30%, then your monthly wallet revenue is (10*30%/365*30)=0. 24BTC.
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