The US presidential elections that occur once every four years are among the global events that attract the world's attention, by virtue of the fact that the United States of America is the largest country in terms of GDP and its currency as the global reserve currency, in addition to the global influence of the United States of America on various parts of the world.
Which makes the world as a whole await the new American president.
The US presidential election and financial markets:
Financial markets are also awaiting the date of the elections, and many investors stand by until the ballot boxes release the name of the new president to decide how and in what they will invest.
According to Dan Clifton of Stratigas Research Partners, every former US president who avoided an economic recession stayed in office for an additional term, except for President Calvin Coolidge who won re-election despite the economic obstacles he faced in the first term of office. His rule coincided with the economic crisis that occurred in the year 1929.
The New York Times claimed that the US economy officially entered a recession in February 2020.
The question remains as to whether President "Trump" will join President "Coolidge" as an exception to the rule or will history repeat itself and "Joe Biden" will come to power.
Digging deeper into the history and how potentially Bitcoin could be affected:
Speaking of history, he pointed out, "Forbes" recently that the performance of equity markets was better during the year was the election of the current president.
Several data indicate that the elections have a direct impact on the stock markets.
With this in mind, the cryptocurrency community has raised the issue of whether elections will affect Bitcoin operating outside of the traditional financial infrastructure and how the elections will affect a currency that exists in the digital world.
Looking at the history of Bitcoin and its presence in two election events in 2012 and 2016, Bitcoin was not affected much, perhaps because it was young and small at the time, and the matter is very different in 2020 after the price of Bitcoin reached the level of 13600 at the present time.
So, what would happen if President Trump, who has openly criticized the entire cryptocurrency industry, remains in office?
Or what would happen if former Vice President Joe Biden assumed responsibility?
Max Keizer, a popular TV presenter at RT, tries to answer this question, as he recently told that Bitcoin is not linked to any political parties or results because it is backed by hunger and hunger.
As such, Keizer responded that Bitcoin in either case wins.
Trump Wins: How Can This Be Good for Bitcoin?
Donald Trump / Source: Bloomberg
The Trump presidency is filled with actions and somewhat controversial statements.
These statements range from planning to build a physical wall with Mexico to keep migrants out, and recently threatening his opponent, "Joe Biden", with physical assault.
But President Trump's views on Bitcoin were consistent and offensive to Bitcoin.
In July 2019, Trump said about Bitcoin:
I'm not a fan of Bitcoin and other cryptocurrencies, it is not money, its value is very volatile and void.
An unpublished book written by John Bolton, a former national security advisor to Trump, claimed that President Trump urged Treasury Secretary Steve Mnuchin to go after Bitcoin a year before his aforementioned assurances.
With that being said, it is hard to imagine that President “Trump” will suddenly change his mind and start supporting the first cryptocurrency or any other cryptocurrency ever.
So, if he wins the election, the effects on Bitcoin could be somewhat negative.
But that is not what Max Kieser believes.
Where "Keizer" explained that by saying:
With Trump, who understands at least something about capitalism, Bitcoin's rise will be slower because I believe it will calm the markets by entering the United States into the global retail war led by Iran after its recent reliance on bitcoin in international trade.
Therefore, the US needs to strive to obtain as much of the global retail rate of bitcoin as possible before its competitors do so.
I know of several countries that will soon announce large sovereign pledges to the bitcoin hash rate in order to try to get rid of Iran's stance.
What would happen to Bitcoin if Biden wins?
Joe Biden / Source: CNBC
Candidate Biden's Twitter account was hacked and a fraudulent post related to Bitcoin was exposed on his hacked account.
After fixing things, he did not say anything about Bitcoin and its uses, so it will be difficult to argue whether or not his presidency would be good for Bitcoin.
While "Keizer" believes that Bitcoin will explode in value sharply in the event that "Biden" wins the elections, as he stated by saying:
Biden's victory will accelerate Bitcoin's advance as there will be panic buying from those looking to escape socialists and cash printers.
Armed thugs will go door to door to steal property in the name of social justice.
Max Keizer: Bitcoin will win in spite of everything
Max Keizer / Source: RT
Keizer" confirmed that Bitcoin is bigger than the election, stating:
It is an asset that has no real attachment to anything.
Bitcoin is not linked to stocks, bonds, currencies, gold, commodities, or property and there are certainly no political parties or political outcomes.
In the United States or anywhere in the world, Bitcoin is only associated with Bitcoin.
Despite the upcoming election result, Bitcoin will still be supported by the aspiration for it and there will remain hunger and need for it.
It's hunger on a global scale because Bitcoin is the big bang of money.
To be clear, I don't mean Bitcoin is powered by energy.
What I am saying is, it is powered by non-stop software code to consume all the available energy on Earth and beyond, to create absolute monetary scarcity to elevate humanity to a more pure state.
Standing above this scale requires simultaneity and enormous amounts of energy.
There is only one day left before the American presidential elections to know who is the next president of the United States of America.
It will be a close election but I think Biden will win this time. That’s what all the predictions are saying.