Bitcoin Price Clears $14,000 As Presidential Race Conclusion Nears

Tony "The Bull" Severino

Last Updated: June 11, 2024 2:07 pm

2 mins read

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Fear, uncertainty, and doubt cause volatity to spike, but that doesn’t always result in downside. Case in point, is Bitcoin spiking even higher, all while the entire world is on the edge of its seat waiting to see who wins the Presidential race.

With emotions running as high as possible, the cryptocurrency cleared resistance at $14,000 with ease, and could at this point be well on its way towards retesting $20,000 or beyond.

Bitcoin Takes Out $14,000 After Polls Come To A Close

Yesterday was Election Day in the United States, and whatever the outcome could shape the future of the global economy, impact the dollar, and have several more critical implications on finanical markets for years to come.

With so much hanging in the balance, and two distinctly opposed candidates, investors, and the rest of the world, are watching and waiting for the outcome to arrive.

Bitcoin clears $14,000 as the world waits for a President to be chosen | Source: BTCUSD on TradingView.com

The uncertainty surrounding the outcome, send the VIX volatity index spiking, and with it the stock market and Bitcoin roaring. While volatility and the VIX in 2020 thus far have been assocaited with downside, this time around, prices are soaring.

The stock market rebounding hard into the election, while Bitcoin has been spending the last week or so trying to get above $14,000 – a feat it has just now accomplished.

Resistance remains above where the last higher low was set before the bear market began | Source: BTCUSD on TradingView.com

The leading cryptocurrency by market cap pushed above the key level for the first time since January 2018, and could aim higher from here.

Bitcoin still needs to clear the above block of resistance to make it toward a retest of all-time high, but with the momentum the crypto asset has, the scenario could be next.

Featured image from Deposit Photos, Charts from TradingView.com

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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