3 ways in which Bitcoin’s price and shares can react to a Biden presidency

Major media outlets have declared Joe Biden the winner of the 2020 election, leading analysts to speculate on how Biden’s presidency could impact the price of Bitcoin in 2021

On November 7, several major media outlets announced that after 4 days of rigorous vote counting in key states on the battlefield, Joe Biden had managed to secure enough electoral votes to become the 46th president of the United States.

As enthusiasm for an incredibly fierce election begins to wane, analysts will examine more closely how Biden’s presidency can impact traditional markets and the price of Bitcoin.

Three key factors to consider are the possible passage of a new round of economic stimulus, the strengthening of the US dollar and the possibility of stock market recovery.

Economic stimulus may drive Bitcoin higher

Before the election, US President Donald Trump said he wanted to postpone discussions on stimulus until after the election. As a result, Democrats and Republicans fought to reach a consensus on an agreement.

Biden’s election sheds light on the prospect of a stimulus package by the end of the year. Democrats in the US Congress already proposed a $2.2 trillion stimulus bill in October, but failed to win Senate support.

The second round of stimulus could positively affect Bitcoin because it significantly relaxes financial conditions in the US. It would also boost the US economy and in turn boost investors‘ appetite for high-risk assets.

Bitcoin’s perception has evolved from a risky asset to a safe haven asset and a game of inflation in recent months. Nevertheless, there are still several cases where the price of Bitcoin moves in tandem with the stock market, so in the absence of appetite for risky assets, the price of Bitcoin may still rise.

US Dollar on the rise

If the Biden government approves a stimulus package, the US dollar will rise. The euro area, for example, has seen the euro rise rapidly after approving a major stimulus proposal.

The US dollar has been underperforming against reserve currencies since March. As a result, it has helped the recovery of gold, Bitcoin and other alternative reserves of value as they are priced against the dollar.

As such, there is a possibility that a second round of stimulus and investor confidence improvement could initially have a positive impact on the price of the Bitcoin. It is also important to note that, over time, the strengthening of the dollar could apply additional selling pressure on Bitcoin and gold.

Stock markets may rise now that the election has been ‚resolved

Analysts also predict a recovery in the US stock market following the confirmation of the election result.

While many analysts believe that Biden’s fiscal and environmental policies could lead to a decline in the stock market, there is a high probability that stocks could rise in the short term.

The stock market fell sharply throughout August and September, as analysts warned against a contested election. Speculation surrounding the election result is unlikely to have fuelled a sale of risky assets.

Instead, fear that the election would drag on without a clear winner made the markets tremble.

After the 2020 race is over, there is less uncertainty in the markets and this could allow stocks to recover alongside other risky assets.

In terms of regulation, Compound Finance’s general board, Jake Chervinsky, said that Biden did not express any public position on crypto assets. He wrote :

„President-elect Biden has not said anything publicly about his views on crypto. For the time being, it is really not a big enough problem to justify his attention. The next four years of US encryption policy depend on who he nominates for key positions; we will know more as the transition continues. ”

Although the media has announced that Joe Biden is the winner of the 2020 election, President Trump has not yet given in and it is widely expected that Trump’s legal team will challenge the results and attempt to force a recount in each state on the battlefield.

If this occurs, fear and volatility can quickly re-enter the markets and lead to a downturn in stock and crypto prices.

Galaxy Digital plans to launch a new Bitcoin fund in Canada

Excellent profits in Q3 2020 for Galaxy Digital, mainly due to its Bitcoin trading activity

Galaxy Digital, a crypto bank founded by Mike Novogratz, intends to expand into Canada.

According to a statement on November 16, Galaxy Digital has partnered with Canada’s leading investment firm, CI Global Asset Management, to launch a Italian Formula public fund in the country.

The CI Galaxy Bitcoin Fund is a „closed-end investment fund“ that aims to provide unit holders with exposure to Bitcoin. The announcement states that the fund will invest directly in Bitcoin based on the prices of the Bloomberg Galaxy Bitcoin Index.

As part of the new initiative, CI GAM has filed and acquired a preliminary prospectus for the initial public offering (IPO) of CI Galaxy Bitcoin Fund. The fund will offer Class A and Class F units at a price of $10 each. While CI GAM will be responsible for asset management, Galaxy Digital will act as its subadvisor, which means that it will perform all BTC trading activities on behalf of the fund.

According to the announcement, you will be able to buy a stake in the fund „in each of Canada’s provinces and territories“.

In addition to the CI Galaxy Bitcoin Fund, Galaxy Digital has also launched other Bitcoin projects, such as the Galaxy Bitcoin Fund and the Galaxy Institutional Bitcoin Fund. The company also manages funds based on other cryptos, such as EOS.

The new initiative was launched shortly after Galaxy Digital saw a sharp increase in trading volumes in the third quarter of 2020. As reported by Cointelegraph, the company reported 75 percent year-on-year volume growth in Q3 2020, reaching $1.4 billion.
Zhao added that the DeFi industry has great potential for growth, noting that it remains popular even during the current sharp rise in Bitcoin (BTC). The CEO also pointed out that in 2017 Initial Coin Offering has been called a bubble, but several ICO-born projects, including Binance, are still going strong:

„Companies create new tokens, distribute them as a reward. It’s not a long story, but I think DeFi is here to stay. Even while Bitcoin’s popularity is growing significantly, DeFi continues to make people talk about it. We believe there is great potential for growth in DeFi.“

However, Zhao pointed out that some DeFi projects „may not last too long,“ although the industry offers a range of stimuli through yield farming and liquidity incentives.

In addition, Zhao said that cryptocurrencies like Bitcoin are the best form of money, calling it the „currency of freedom for millions of people around the world. According to the CEO’s forecasts, the crypto market has the potential to grow up to 100,000% as digital assets are likely to become more widespread than fiat currencies.

Bitcoin price at $ 20,000 before the end of the year? Swiss bankers & other analysts give their BTC forecast for the best

After the recent rapid rally, the Bitcoin price will likely take a breather before rising further towards the end of the year. At least that’s what Chris Thomas, Head of Digital Assets at Swissquote Bank, thinks.

In this regard, the analyst said:

The cryptocurrency could consolidate for a short period of time before continuing to rise until Christmas.

In fact, further notable gains seem unlikely in the short term, as the Bitcoin price has already seen a 60% increase from $ 9,800 to $ 15,900 in the past two months. Both the 14-day and 14-week Relative Strength Indexes are well above 70, indicating overbought conditions and scope for consolidation or a small decline.

Based on Thomas‘ comments, Patrick Heusser, Senior Cryptocurrency Trader at Zurich-based Crypto Broker AG, expects the Bitcoin price to consolidate in the range of $ 14,000 to $ 16,000 in the next few weeks. However, he assumes that the break will enable rally in the altcoins, most of which have lagged behind the Bitcoin price in the past two months.

Bitcoin course could also be heading for a major correction

Others see the whole thing a little less bullish. At least in the short term. Some analysts suspect that the Bitcoin course is heading for more than just consolidation. Joel Kruger, a currency strategist at LMAX Digital, said:

Bitcoin is overbought after breaking critical resistance at $ 14,000, which suggests we may see a period of correction and consolidation.

Historically, the Bitcoin price has seen several setbacks of over 20% in previous bull markets. A big drop is likely this time around, however, as liquidity on the sell side appears to have dried up due to increased institutional ownership and strong HODL sentiment among investors.

Bitcoin price of $ 20,000 this year?

While observers are divided on whether the Bitcoin price will consolidate or fall in the short term, there seems to be a consensus that the long-term outlook for BTC is extremely bullish. Some even expect a retest of the record high of $ 20,000 by the end of December.

Jehan Chu, co-founder and managing partner of Hong Kong-based trading firm Kenetic Capital, investor sentiment has never been better.

We expect short-term volatility alongside even stronger uptrends, flirting with $ 20,000 before the end of the year and, if the stars are favorable, $ 50,000-80,000 by the end of 2021.

Thomas from Swissquote also expects a weaker dollar and political uncertainty in the US, which will play into the hands of the Bitcoin price in the long term.

All in all, BTC is likely to maintain its general uptrend. Kruger also believes that the Bitcoin course still has immense upside potential:

Look for the market to establish above $ 20,000 in 2021 before the next major upward widening into the $ 30,000 to $ 40,000 range.

Halloween Spooks Bitcoin come Wall Street soffre il giorno peggiore da giugno

Il bitcoin è sceso di quasi il 4% durante la notte, mentre la volatilità si insinua di nuovo nel cripto. Wall Street nel frattempo soffre il giorno di trading più difficile degli ultimi mesi.

In breve

  • I mercati di Crypto hanno subito un brusco calo da un giorno all’altro, con Bitcoin che ha perso quasi il 4%.
  • Più di 800 milioni di dollari di opzioni future scadranno il 30 ottobre.
  • Wall Street ha il suo giorno più difficile da giugno.

Halloween 2020 è un periodo spaventoso per Bitcoin. Il fantasma di Satoshi sta tornando? Non proprio. È il fantasma dei futures del passato, ovvero una tonnellata di contratti di opzioni Bitcoin.

Ci sono circa 750 milioni di dollari di contratti di opzioni Bitcoin – in sostanza scommette su quale sarà il prezzo del Bitcoin in una data futura – che scadrà il 30 ottobre.

Questo secondo la società di dati e analisi Skew. Se questo non fosse abbastanza, ci sono 76 milioni di dollari di opzioni ETH che scadranno nello stesso momento.

Che cosa significa? Quando i contratti scadono, se gli scommettitori hanno avuto ragione, ricevono un bel giorno di paga, se si sbagliano, perdono la loro quota. Molti osservatori del mercato interpretano questi eventi come momenti di maggiore volatilità.

Abbiamo già avuto grandi date di scadenza come questa, in particolare a settembre, quando doveva essere chiuso un miliardo di dollari di scommesse, ma ha fatto poco per muovere l’inesorabile ascesa di Bitcoin.

Oggi, però, qualcosa sembra aver spaventato la più grande crittovaluta del mondo per limite di mercato. Il Bitcoin ha subito un grosso colpo, con un calo del 3,53%, portando con sé il tetto del mercato globale.

Quasi tutte le valute hanno seguito con l’Ethereum in calo del 2,56% e l’XRP del 2,49%. I maggiori perdenti sono stati Monero, in calo del 5,12%, Polkadot del 4,94% e Litecoin del 4,33%.

L’assediata pedina CRO di Crypto.com continua a prendere una batosta, perdendo il 6,89% per arrotondare un’altra settimana di perdite a due cifre.

„La combinazione delle elezioni negli Stati Uniti, il peggioramento dello stato di alcune delle più grandi economie mondiali e la continua presenza di COVID stanno facendo la loro parte nel mettere sotto pressione gli asset“, dice un portavoce di AAX, la prima borsa digitale al mondo alimentata dalla Borsa di Londra.

Facendo da peerer al Fear & Greed Index, il sentimento degli investitori di Bitcoin è ancora nella sezione „avidità“, anche se è scivolato verso sud per tutta la settimana.

La disfatta di Wall Street

Le cose non vanno molto meglio a Wall Street. Mercoledì ha visto una disfatta nei mercati come il Dow ha avuto il suo più grande calo di singola sessione da giugno, perdendo 943 punti, o il 3,4%.

Sul Nasdaq, le cose non sono andate meglio in quanto i giganti della tecnologia Google, Twitter e Facebook hanno tutti dovuto affrontare una grigliata da parte dei senatori statunitensi sulle politiche di moderazione dei contenuti delle aziende.

Mentre i mercati si sono ripresi un po‘ in ritardo nel trading, la volatilità è ai massimi livelli da mesi. Secondo il CBOE Volatility Index, i mercati non sono stati così turbolenti dall’inizio dell’estate.

La combinazione di nuovi blocchi in Francia e Germania, il livello record di casi di notizie negli Stati Uniti e la fine della protezione dei permessi in luoghi come il Regno Unito indicano una prospettiva desolante per l’inverno, dato che un vaccino COVID è ancora lontano mesi prima di essere pronto.

Ringraziamo tutti di avere un’ora in più a letto, eh?

Un membre britannique présumé de l’Etat islamique a utilisé Bitcoin pour financer l’évasion de militants des camps de prisonniers syriens

Un citoyen britannique qui aurait été membre de l’EI depuis plus de quatre ans a comparu devant un tribunal local pour avoir prétendument envoyé de l’argent à l’étranger (via BTC) pour aider des militants capturés de l’Etat islamique à s’échapper des camps de prisonniers syriens.

Selon un rapport , le citoyen de 27 ans nommé Hisham Chaudhary fait face à sept chefs d’accusation de terrorisme, dont l’appartenance à une organisation interdite et la conclusion d’un accord de financement

En plus de cela, les charges retenues contre Chaudhary comprennent également la compilation et la diffusion d’une publication terroriste intitulée The Wholesome Fruit In The Vertues And Etiquettes Of Jihad en octobre et novembre de l’année dernière.

Cependant, l’accusé n’a indiqué aucun plaidoyer pour les sept chefs d’accusation lors de sa comparution vidéo au Westminster Magistrates ‚Court.

Selon le rapport, Chaudhary est accusé d’avoir assumé certaines responsabilités au nom du groupe, telles que la collecte de fonds et le transfert d’argent à l’étranger en utilisant Bitcoin, ce qui permettrait aux militants de l’Etat islamique de s’échapper des camps de prisonniers contrôlés par les Kurdes dans le nord de la Syrie.

Le montant de BTC que Chaudhary a acquis et aurait envoyé aux militants reste caché aux autorités. Les procureurs ont affirmé que Chaudhary, qui est originaire d’Oadby, dans le Leicestershire, est un membre accepté de la tristement célèbre organisation terroriste État islamique depuis début 2016.

L’État islamique est interdit en vertu de la loi britannique depuis 2014

Les organisations terroristes utilisent Bitcoin pour financer leurs opérations à un rythme croissant. En fait, en août de cette année, le département américain de la Justice (DOJ) avait saisi plus de 300 comptes de crypto-monnaie liés ou gérés par trois groupes terroristes notoires.

Les forces de l’ordre américaines ont suivi les fonds vers les comptes sur la blockchain Bitcoin et ont vu des millions de dollars de transferts de «campagnes de financement» et de dons anonymes se terminant dans les portefeuilles. Finalement, les autorités américaines ont pu saisir plus de 300 comptes de crypto-monnaie, quatre sites Web et quatre pages Facebook, tous liés à l’entreprise criminelle.

Le géant des actifs d’un billion de dollars Fidelity lance un nouvel effort pour apporter le Bitcoin aux investisseurs fortunés

La division des actifs cryptographiques de Fidelity Investment, Fidelity Digital Assets, s’associe à Stack Funds, basée à Singapour, pour offrir des services de garde cryptographique aux investisseurs fortunés en Asie, dans un contexte d’intérêt croissant pour le Bitcoin (BTC) et d’autres crypto-monnaies dans la région.

Le partenariat offrira aux clients de Fidelity une exposition supplémentaire à ce que certains considèrent encore comme un secteur économique naissant

Michael Collett, co-fondateur de Stack, a déclaré à Bloomberg que le lien de l’entreprise avec Fidelity attirera les investisseurs asiatiques qui souhaitent accéder aux services de garde sécurisés de Fidelity Digital Assets.

Le partenariat Stack n’est pas le premier pas de Fidelity pour rendre l’investissement cryptographique accessible à sa clientèle.

La société a créé sa branche des actifs numériques en 2018 et ce n’est qu’en août, Fidelity a déposé auprès de la SEC un fonds d’indice Bitcoin (Wise Origin Bitcoin Index Fund, I, LP).

Stack a également lancé un fonds indiciel bitcoin de qualité institutionnelle en janvier

L’annonce de Fidelity and Stacks arrive sur le marché alors que le prix du Bitcoin continue de connaître une action de prix majeure à la suite de l’intérêt institutionnel accru de MicroStrategy et de la récente adoption de la cryptographie par PayPal .

Le co-fondateur de Stack souligne l’intérêt renouvelé des clients pour Bitcoin des mois après que le prix de la crypto-monnaie phare est tombé en dessous de 4000 dollars en mars.

«Cette année a été difficile pour ce qui est d’attirer les gens vers Bitcoin, car il ne s’est pas couvert de gloire dans le ralentissement du marché … Depuis les jours sombres de mars, les demandes ont repris.