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bitcoin 15000
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Bitcoin Quickly Approaches $15,000 As Election Outcome Lingers

Tony Spilotro by Tony Spilotro
2 years ago
in BTC
Reading Time: 2 mins read
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The stress related to the United States Presidential election has triggered a wave of FOMO buying in Bitcoin, picking up in steam even more the longer the outcome of the election lingers on.

With more than 48 hours already passed since polls began to close, how long could this go on for, and how will the cryptocurrency continue to react in the face of all the risk, chaos, and uncertainty across the globe?

Bitcoin Falls Short of $15,000 By $50, But Could Break By Election Decision

Bitcoin price continues to rise along with tensions and anxiety across the world, as the culmination of the pivotal 2020 US Presidential election prolongs further.

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The longer the decision drags on, the stronger Bitcoin appears to react. Anxieties have caused the VIX to spike and volatility across all markets to result. But unlike Black Thursday, the volatility is playing out to the upside instead.

Bitcoin has benefitted enormously, blasting through $14,000 and rising 6% intraday after weeks and months of extended upside.

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Bitcoin tries to take out $15,000 as anxieties climb on election outcome delays | Source: BTCUSD on TradingView.com

The cryptocurrency raced all the way toward $15,000, stopping short by about $50 on most crypto exchanges.

The election was expected to be bearish for markets, and investors were warned to begin taking profit and hedging against the uncertainty. Those who did, have missed out sorely on some of the year’s best performance in crypto and stocks combined.

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

Stocks did dive ahead of the election but have recovered with some of the largest single-day gains on record. Bitcoin has exploded higher alongside. Will the cryptocurrency continues to spike to high running emotions and FOMO, or once a decision is made, will things come toppling down?

Featured image from Deposit Photos, Charts from TradingView.com
Tags: bitcoinbtcbtcusdBTCUSDTcryptoxbtxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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