The whales remain calm despite the recent drop in the price of BTC. BTC investors are confident, optimism reigns in the markets. Bitcoin should win the polls hands down.
The ballot boxes have spoken: the winner is known.
The BTC gained 2% in just 30 minutes as the bell rang for the opening of the U.S. stock market today, November 3, 2020.
The U.S. presidential elections have caused great volatility in the traditional financial markets and those of Bitcoin.
Tyler Winklevoss indicated in a tweet that Biden and Trump are both "addicted" to the U.S. Federal Reserve's currency board. Regardless of who wins this election, Bitcoin is the only one that will be victorious in the long run.
For Tom Lee of Fundstrat Global Advisors, the stock would rally 10% if Biden won, but if Trump won, the gains would be 15% to 17%.
No need to wait for the outcome of the ballot boxes: both scenarios declare Bitcoin the clear winner, as BTC has in the past shared the bull rallies of the stock market.
The whales hold their positions
Bitcoin hashrate dropped during the month of October 2020. The BitInfoCharts data indicate that Bitcoin hashrate has dropped from its ATH of 97.6 EH/s to 157.6 EH/s.
This significant drop in hashrate did not prevent the price of BTC from exploding to USD 14,100 on October 31, 2020, the 12th anniversary of Bitcoin.
At the time of writing, Bitcoin is trading at USD 12,775. The BTC has experienced a decline bringing its price below 13,300 USD yesterday, November 2, 2020.
However, on-chain data and whale clusters show that they do not seem to expect a more significant decline in the short term. They continue to maintain their BTCs.
The fate of Bitcoin will soon be decided: will it explode or super-explode? Donald Trump had lied about the statistics in the last election. Let's hope that the forecasts of a bullish BTC, regardless of the winner, are not distorted by the Russians. Bitcoin did not run a campaign, so there is no need for it to play the clown to win.
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