Bitcoin is dumping due to election ?

[Human]

I think these election highly affect on bitcoin market. What you think ?

 

[Niftyyem]

I really do not think so. Personally, I haven't seen any drastic change in bitcoin price that may lead me to believe so.

 

[Vladv26]

And why exactly would bitcoin price be affected by the American elections? Did USA invest billions of dollars into bitcoin and now they are withdrawing it? Bitcoin price doesn't have to do anything with the elections from USA

 

[hani20980]

Yes but not too much it's just fall from 15500$ to 14800$ then it recover again

 

[Ralphjoe]

It is quite a normal phenomenon for the price of Bitcoin to be dropping during the time of an election because this is that time of the year whereby the political space is quite volatile and so it affects bitcoin negatively. These times, most people try to dump their bitcoin portfolios because they don't want to lose their investment.

 

[Nomad]

Bitcoin and crypto currency market, in general, started falling when CHina blocked mining and Russia proposed a ban. Later war started in Ukraine and the crypto market continued to fall

 

[Kennysplash]

Which election? I don't think just one country activities is enough to affect the price of Bitcoin in that manner. If it is not a major world event or intervention from a celebrity it won't make much difference.

 

[Ononivami]

It is very important to understand that cryptocurrency is also influenced by some factors and election affect the economy which could also influence cryptocurrency demand-and-supply greatly.

 

[Potuse]

Political issues can affect the price of Bitcoin. That is why there are great factors that influences the price of Bitcoin and we must always understand this truth which is important to consider.