- Bitcoin price manages to hit the year to date high.
- Bitcoin price hit the YTD high at $13821.
- Would BTC price fall down after the US elections
The king of cryptocurrency has just managed to get past all the barriers as the Bitcoin price saw the year to date high of $13821, albeit briefly. The king is still enjoying a price near the yearly high just recorded.
At the time of writing the Bitcoin price stands at the $13753 mark. As reported earlier by Cryptopolitan.com the king was in for this rally since yesterday, when the price was holding the $13200 range.
Bitcoin price and US elections
It appears that the current United States election results are having a positive impact on the cryptocurrency realm as Joe Biden appears to be winning with a good majority.
Donald Trump has been one of the most controversial presidents in the history of the country and it appears that the likely news of his removal is instilling a fear of missing out (FoMo) in hodlers and newbies alike. However, the trading volume is not showing any major spike in the number of transactions therefore increasing the possibility of hodler, institutional, and whale buying.
On the other hand, the Whale Alert Twitter is reporting a mix of buying and selling which is mostly inclined towards the selling. The only other factor that is likely to be affecting the price hike is the increase in US dollar price owing to the pre-poll results showing a stable lead for Jeo Biden across the country.
Given the current situation, traders are likely to yield good margins on their Bitcoin trades since the cryptocurrency is likely to see new highs in the days to come. Cautious trading is advised as a security measure as always folks.