As former vice president of the United States Joe Biden continues to flip states in this week’s federal election, financial markets all across the world, including Bitcoin and the broader cryptocurrency market , are responding positively. One Bitcoin is currently worth just over $20,000 Canadian with the world’s most valuable cryptocurrency adding more than 15% gain over the last week, bringing the overall market capitalization to just over
.
It’s obvious that investors are breathing a sigh of relief as the continuing of the election brings greater clarity regarding America’s social, economic and political future. Thanks to the large increase in price, Bitcoin is now worth more than companies like Walt Disney, the Bank of America, Netflix and even Canada’s darling stock, Shopify,
.
An Even Bigger Reason to Be Excited about Bullish Bitcoin
Billionaire venture capitalists and identical twins Cameron and Tyler Winkelvoss famously predicted that the price of one bitcoin will exceed $500,000 USD within the next 10 years. Now the twins are in the news again.
that calls for the approval of another stimulus package by Federal Reserve Chairman Jerome Powell is “…code for buy Bitcoin”.
Powell addressed the media yesterday
:
“The current economic downturn is the most severe in our lifetime. It will take a while to get back to the levels of economic activity and employment that prevailed at the beginning of this year…”
Regardless of who reigns victorious in this year’s presidential election, both incumbent President Donald Trump and Joe Biden are likely going to have to approve a stimulus package early in the new year. The last time Americans received such a package, the number of $1,200 transactions (the amount the average Americans were given the last time a package was approved) registering on Bitcoin’s blockchain around that same time was astronomical.
With Bitcoin looking ripe and ready to continue its bullish uptrend over the next several months, now is a great time to log on to blog.netcoins.com, one of the most trusted
cryptocurrency exchanges in Canada
and get your hands on the world’s most valuable cryptocurrency.
Looking to
? Netcoins makes it easy for people to buy and sell cryptocurrencies like bitcoin.
Written by: Jack Choros
Writer, content marketing at Netcoins.
The information provided in the blog posts on this platform is for educational purposes only. It is not intended to be financial advice or a recommendation to buy, sell, or hold any cryptocurrency. Always do your own research and consult with a professional financial advisor before making any investment decisions. Cryptocurrency investments carry a high degree of risk, including the risk of total loss. The blog posts on this platform are not investment advice and do not guarantee any returns. Any action you take based on the information on our platform is strictly at your own risk. The content of our blog posts reflects the authors’ opinions based on their personal experiences and research. However, the rapidly changing and volatile nature of the cryptocurrency market means that the information and opinions presented may quickly become outdated or irrelevant. Always verify the current state of the market before making any decisions.
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