Famous Bitcoin promoter Max Keiser had anticipated a boom in Bitcoin price when Democrat candidate Joe Biden, fortunately, becomes America’s President.
As numerous factors still determine the crypto price, Keiser anticipates a Bitcoin boom for Biden. Though crypto can be decentralized and independent of the happenings in the traditional market and global politics, it is yet for the independence to be achieved.
It is still under the influence of political happening in influential economies like the US, and now crypto prices bow to the government and its regulations.
Global events that had an outcome to the Bitcoin Price
As of now, the most anticipated global event is the upcoming US election. Donald Trump is competing against Joe Biden. The effects that the election would have on Bitcoin price cannot be stated currently. However, it depends on the election result. Keiser, on the other hand, predicts a Bitcoin boom if Biden, fortunately, wins the election.
In the past, global events have a giant print on Bitcoin price, boosting it to upwell exponentially. Similarly, ill-fated global-events have also affected Bitcoin prices to plunge.
Early in January, when world war III looms between America and Iran, after a series of hostilities and attacks, Bitcoin’s price is beginning to flow. The crypto price that was consolidated around $8k den had surged to over $11k and then dropped when Donald Trump stated that America is not going to war.
Correspondingly, at the peak of the coronavirus pandemic that happened in the past months, the crypto price had plunged massively. Bitcoin prices have steadily dropped below $4k after the WHO declared COVID-19 a worldwide pandemic. But the crypto was capable of raising the price above the ruin the trading at $13k now.
Biden’s presidency seems to boost Bitcoin than Trump.
Keiser believes that Trump had already announced his dislike for Bitcoin; because of that, when Biden wins, Bitcoin will record a point in value owing to panic buying.
Keiser also explained that when Biden wins, his tenure will be filled with corruption where Bitcoin can flourish. A veteran has foreseen the Bitcoin boom under Biden for people will buy Bitcoin, and it won’t be confiscated.
When Trump becomes the President again, there will be a more orderly Bitcoin tradition; then the crypto price will surge slowly as per the explanation of Keiser.