Crypto Post #37: US Election Result’s Impact On Bitcoin

The historical United States election choice has had a short-term impact on the contemporary financial system. I would not go into great depths about the presidential choice and about the inferences of what could have caused the impacts. All facts could be researched through official newspapers and newspaper websites, such as the Telegraph article. I would just list the impacts that happened solely for the one day after the American elections. But, here are the basics of the short-term changes that were evident on Wednesday when the candidate selection was official:

  1. Bitcoin price increased on Wednesday (November 9) by a bit, compared to Tuesday’s price.
  2. Some precious metals including Silver and Gold, and some foreign currencies including the Yen have increased in value on Wednesday (November 9th), compared to the previous day’s numbers.
  3. The valuation of the U.S. dollar and stocks (including Dow Jones) started to decrease a bit beginning of Tuesday when the U.S. was still voting.

So, what could this mean? It is still too early to suggest that the election result was the major factor of these changes. It would yet be interesting to watch what the price of Bitcoin and precious metals, as well as the standing of the stock market would be over the days. Additional indicators would be a step forward in allowing a determination of where the financial system of fiat, cryptocurrency, and precious metals would go following the revelation of the next American president.

Copyrighted.com Registered & Protected UULV-YZTI-52O9-NUDC Copyright © 2018. All Rights Reserved. BESTradingBrokers

NOTICE: BESTradingBrokers does not intent to profit from any of the written material on this website. None of the articles are meant to advertise any of the mentioned entities. Additionally, no copyright infringement is intended. As the current primary purpose of this website is to inspire generosity of cryptocurrency donations, it is anticipated that the material written on the site (including the blogs from Cryptanations Initiative) would motivate cryptocurrency enthusiasts to use the system behind the various cryptocurrencies for similar philanthropic means.

.
Translate »