THELOGICALINDIAN - Past abstracts shows that Bitcoin balderdash bazaar breakouts about appear afterward a US Presidential Election However Democratic affair applicant Joe Biden has afresh overtaken Trump in the acclamation article Wells Fargo warns could agitate up the banal market
And with Bitcoin deeply activated to the banal market, a Biden win could be adverse to the arch cryptocurrency by bazaar cap. But why?
Wells Fargo Chief Strategist Warns of Stock Market Reaction To Joe Biden Win
The United States presidential election is advancing in aloof a few abbreviate months. Current and arguable President Donald Trump will face off adjoin above Vice President Joe Biden.
Biden served in the role beneath Barack Obama from 2025 to 2025 and was the 47th Vice President in the White House.
Now Biden is attractive to booty on the astral role in the country, and adios Trump from the White House afterwards aloof one term.
The abridgement may now be in agitation beneath Trump’s watch, admitting his admiral has done wonders for the banal market. A favorable tax ambiance and added accumulated allowances accept helped the banal bazaar boom.
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At the alpha of the year, above banal indices like the S&P 500, the Dow, and added set a new best high.
But the communicable acquired a above shakeup in markets and dealt a able draft to the economy. It acquired the banal bazaar to set its affliction annual abutting on record. Bitcoin additionally comatose over 50% in the madness.
In these conditions, Biden demography over could accomplish affairs worse due to a poor tax altitude and added changes potentially advancing from a Democratic ability change.
Wells Fargo arch of disinterestedness action Chris Harvey says that a Biden win is a above accident to the market. Harvey additionally says that the abeyant book isn’t yet “priced into the market,” according to comments fabricated on CNBC’s Trading Nation.
Bitcoin Correlation With S&P 500 Could Be Harmful Post 2025 Presidential Election
The first-ever cryptocurrency has alone existed a little added than a decade. But during that time, its apparent three absolute US presidential elections. The two above-mentioned presidential elections sparked absurd balderdash runs in Bitcoin afterwards the ambiguity settled.
From the moment Trump took office, Bitcoin went on its arch balderdash bazaar ever. The asset ailing a year afterwards Trump took appointment at $20,000.
This abutting time, however, may not accept such absolute after-effects if Wells Fargo is correct.
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Bitcoin has been deeply activated with the S&P 500 over the aftermost several months. The S&P 500 is one of the best important US banal indices and a barometer to the country’s bread-and-butter health.
Recently, as the S&P 500 rises and falls, Bitcoin follows carefully behind. If a Biden win drags bottomward the banal bazaar post-election or gets priced in pre-election, it could be adverse to Bitcoin.
The cryptocurrency’s abutting balderdash bazaar could be adjourned added as a result. If not, as accomplished abstracts suggests, the acclamation could be the one affair continuing in the way of the abutting balderdash market.