Historical! Do presidential elections affect Bitcoin markets?
Hello everyone, about the presidential election! On the day, I was making money from楽天225 double bear and rebounds in individual stocks@xi10jun1.
The presidential election was a big commotion, wasn’t it? Just one man, Trump, becoming president sent the Nikkei down by 1000 points—this is a frightening market.
Now, in such a presidential election, how did Bitcoin fare?
Performance
First, the performance.
Losses from unnecessary trades... Being too bearish was not good.
Bitcoin market on November 5, 2016
First, let's look at the market before the election.
After the drop on the 4th, it seemed like a phase of adjustment, with a gradual up and down, an unstable market.
In this kind of movement, it either rises gradually or has a second leg down; I wonder how Bitcoin will move?
Bitcoin market on November 6, 2016
It rose gradually, didn’t it?
If it surges, a bullish trend starts, and if the range continues, it’s okay to buy the dip during the downside. But Bitcoin can also plunge, so you must set stop-loss strictly.
Bitcoin market on November 7, 2016
There was a moment when the trend was broken, so I tried selling, but failed...
Since then it surged sharply, which is frustrating.
Nevertheless, the uptrend seems to continue for now.
Bitcoin market on November 8, 2016
I redrew the lines, and from here a drastic fall seems unlikely.
However, the price range is a bit smaller than before. Is there a wait-and-see mood ahead of the presidential election?
Free takeaway: Bitcoin markets do not show large changes immediately before events
In stock and forex markets, before major events, price moves are more likely due to influential statements.
However, in the Bitcoin market, such momentum moves were not observed much. Whether this is a coincidence this time or not will require ongoing attention.
That said, these are moves up to the day before. Let’s watch how it moves on the event day together with the presidential election.
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