Oct 08, · Popular economist and crypto analyst Alex Kruger predicts that bitcoin and other store-of-value assets will benefit from the Democratic party making a “clean sweep” in the upcoming U.S. presidential and congressional elections. According to Kruger, a Democratic victory in November will prove bullish for bitcoin, gold, silver, and other affcrypto.de: Michael Lavere. It’s a trend that analysts say will provide a boost for both the intrinsic value and the market value of Bitcoin. U.S. House Democrats Propose Even More Stimulus. On Tuesday, the House Democrats revealed a proposal to send stimulus checks worth up to $6, per family to help the economy grapple with the COVID outbreak, which has. Bitcoin, Democrats Bitcoin and other cryptocurrencies are “stored” using wallets, a wallet signifies that you possess the cryptocurrency that was dispatched to the case. Every case has type A public direct and a private primal. This worked pretty well as the Bitcoin price.
Democrats bitcoinHouse Democrats Propose 'Digital Dollar' in Move Big For Bitcoin: Here's Why
The Morgan Stanley executive said that the US economy was already expected to rebound in from the effects of the COVID pandemic disruption—Caron believes that should Democrats win and pass further stimulus funds, it could boost growth impact into However, the Morgan Stanley investment manager believes the election will raise more questions than provide answers. Many investors are wary of a Biden win as it is expected it could result in higher taxes and tighter regulations, which could have a knock-on effect on lower corporate profits and less economic growth.
The Bitcoin price today has seen a sharp rise due to the rising potential that a deal will be made between both parties to release another round of relief stimulus prior to the elections after House Speaker Nancy Pelosi said that she and Treasury Secretary Steve Mnuchin have narrowed their differences.
The BTC price has risen on this sentiment alone. As predicted by Caron of Morgan Stanley, a democratic clean sweep in the next election should definitely guarantee further stimulus packages which would be a boost for the stock markets—as Bitcoin and equities have been strongly correlated in recent months—it could also provide a boost to cryptocurrency prices. Bitcoin investors continue to bet that the continued flood of government and central bank spending to fight the pandemic-caused economic slowdown will eventually lead to high inflation, which would also be beneficial for cryptocurrencies as the US dollar would lose purchasing power and send BTC's price surging.
In a tweet posted on May 12th , President Donald Trump asserted that with other countries going negative in terms of interest rates, the U. Big numbers! Gold and BTC benefit.
Indeed, negative rates will coincide with the inflation of the money supply and will force investors to seek assets that yield more returns than cash. I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt.
I own a small amount of Bitcoin. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies. All Rights Reserved. Advertise Submit a Press Release. Home Cryptocurrency news Bitcoin. Reading Time: 2min read. Reloads and free spins available every day, for every player, in mBitcasino Crypto Autumn Bonanza! Play Now! Tweet Share.