• Global events affect Bitcoin prices
• Bitcoin price to surge if Biden becomes President
• Trump presidency would see a slow rise in Bitcoin price
Popular Bitcoin proponent Max Keiser has predicted a boom in Bitcoin price if Democrat candidate Joe Biden eventually becomes America’s President.
Keiser predicts a Bitcoin boom for Biden as the crypto price is still determined by several factors, including political happenings worldwide. Although the crypto can be decentralized and independent of happenings in the traditional market and global politics, it is yet to achieve that independence.
It remains under the influence of political happening in powerful economies like the US, and crypto prices bow to the government and its regulations.
Recent global events that affected Bitcoin Price
Currently, the next and most anticipated global event is the coming US election. Sitting President, Donald Trump is out against Joe Biden. The effects the election would have on Bitcoin price cannot be said currently but depends on the election result. Keiser, however, predicts a Bitcoin boom if Biden wins the election.
Previously, global events have had a giant print on Bitcoin price, pushing it to surge exponentially. Equally, Unfortunate global events also affect Bitcoin prices to plunge.
Earlier in January, when a world war iii was looming between America and Iran, after series of hostilities and attacks, Bitcoin price began to surge. The crypto price, which was consolidated around $8k then surged to over $11 k and dropped after Donald Trump’s address America was not going to war.
Similarly, during the peak of the coronavirus pandemic months back, the crypto price plunged massively. Bitcoin price dropped steadily below $4k after the World Health Organization(WHO) declared COVID-19 a global pandemic. However, the crypto was able to rise above its ruin trading at $13k now.
Why Biden presidency means Bitcoin boom over Trump
Per Keiser, the Bitcoin proponent believes that Trump already announced his dislike for Bitcoin; therefore, if Biden wins, Bitcoin would record a spike in value owing to panic buy.
Keiser explained that if Biden wins, his tenure would be filled with corruption where Bitcoin would thrive. The Wall Street veteran foresees Bitcoin boom under Biden as people would buy Bitcoin that won’t be confiscated.
If Trump becomes the President again, there would be a more orderly Bitcoin tradition, hence, the crypto price would surge slowly Keiser explained.