The U.S. election will already be held on Tuesday, November 3. Will the Americans give Donald Trump a second chance? Or will they bet on Joe Biden? And what does all this mean for Bitcoin and other cryptocurrencies? Elections in the US The current elections in the USA may decide the future not only of the country, but also of the world. Trump turned out to be quite a good manager, but mainly when it comes to economic issues. He did worse on the level of fighting the coronavirus pandemic. The best evidence of this is surveys, according to which the citizens of the USA admit that they live better today than 4 years ago, but they will not vote for the current head of state. In their opinion, Trump failed the test during the pandemic, and this one in the eyes of many was and probably is something along the lines of a war. So the authority had to meet the basic task - to ensure the safety of everyone. On top of that, there were riots related to the Black Lives Matter movement, which brought additional uncertainty and anxiety to the country. On the other hand, the current president continued Barack Obama's policy towards China (not many people remember that the policy of "pivot to the Pacific" was the work of Hillary Clinton and took place under the previous president). Only that he tightened up his actions. Today experts suggest that there might even be an armed conflict between the superpowers. But will Biden's win change the above? It is doubtful. The elites in Washington may quarrel about certain directions of American policy, but in the international sphere they rather go hand in hand. China-US war So regardless of who wins the election - Biden or Trump - the US conflict with China will continue. If it takes the form of a cold war (in fact, it's already at this stage), we can count on it to positively affect cryptocurrency rates. Sanctions and any restrictions on trade rather drive valuations from this market. The question, however, is what will happen to BTC and other blockchain-based currencies when war breaks out. We don't know and anyone who tries to answer this question is already treading on very shaky ground. Bitcoin was created as a response to the economic crisis of 2008. Thus, one could expect that when the next one comes, the BTC exchange rate will rise (although there were skeptics who thought that a recession would plunge the cryptocurrency market). This is what is currently happening. Admittedly, on March 13 of this year. Bitcoin cost only a little over $3,000 for a while, but today it is paying close to $14,000 on exchanges. Now let's consider what will happen to cryptocurrencies when an armed conflict breaks out. No government can seize them, and a private key on a piece of paper or in the form of a file on a flash drive is easier to smuggle when crossing borders than, say, gold in the form of coins or bars. So maybe Bitcoin will also benefit from a possible global war? In any case it would be better not to find out... Current status So far in the US as many as 90 million eligible voters have already cast their ballots. That's as much as 65 percent of the total turnout in the 2016 presidential election, when Trump fought Clinton for the White House. Americans took advantage of special early polling stations or voted by mail. Who's winning. We don't know the results for these 90 million, but as Asia One reports, for example, the polls clearly point to Biden's success. This one - despite many slip-ups - leads nationwide. However, states such as Florida will be crucial, so a lot can still change. Voters also believe that the most important issue for them now is the fight against the COVID-19 pandemic. And in this field Trump - as other polls suggest - has failed. At least in the public perception. The two politicians and their camps, however, are unlikely to differ much on how to fight the coroner-crisis itself. Both are, in practice, in favor of "printing" it. The markets have even been flooded with fresh dollars this year. Americans have received $1,200 each and $500 for each child in checks. Over the past few weeks, there has been an ongoing tug-of-war in Congress over how much the next aid program should be, but - that's right! - It only concerned the scale of the spending, not whether the Fed should continue to pump the economy with empty bills. That's right, the Fed! The central bank is already openly saying that it is playing for a lower USD and does not mind higher inflation. Again: it is doubtful that Biden will stop this policy. Quite, we can consider that he will advocate it! CBDC and cryptocurrencies Trump reportedly wanted to ban cryptocurrencies. This was suggested by John Bolton, a former associate of the US president, who described it in his book titled "The Room Where It Happened". It is from it that we learn that the occupant of the White House in May 2018 was thinking about some kind of restriction or destruction of this market. Trump, however, is famous for his volatility. It is possible that someone efficiently persuaded him of this idea. Today, he is reportedly already worried about something else: the fact that China will be the first to issue CBDCs. This was reported by Breitbart, which suggests that the Trump administration is reportedly worried that the vague and stringent regulations of the Securities
No comments:
Post a Comment