At the time of writing this article, votes are being counted to determine who won the US White House chair, “Donald Trump” or “Joe Biden”. In Arab Bitcoin, we are most interested in knowing the conditions of Bitcoin and how it performed during the last American elections.
Since Bitcoin is very young (January 2009), it has attended three election events (2012-2016-2020).
Today, bitcoin is priced at $ 13,800 according to CoinMarketCap, up 3.59% in the past 24 hours.
On the night of the 2016 election, when President Trump defeated Hillary Clinton, bitcoin was only estimated at $ 700.
After Trump won, the price of Bitcoin rose to $ 735.
This represents an 18-fold increase in the Bitcoin price over the past four years (2012-2016).
In 2012, when Obama defeated Mitt Romney, the price of Bitcoin was equal to about $ 11.2, and $ 12.56 a month after the elections, which represents a 1,000-fold increase in Bitcoin over the past three years prior to 2012.
The above-mentioned figures show and show the huge differences in the bitcoin price, which have been linked with the US presidential elections as they are considered a prominent global event.
As America tests the foundations of its democracy this month, bitcoin traders will also test the new prices.
In the past month, the bitcoin price rose from around $ 10,500 at the start of the month to its highest of just over $ 14,000 over the weekend.
Many observers believe that Bitcoin is not linked to global events, and that Bitcoin carries a so-called “safe haven”.
Bitcoin is viewed as an investment asset isolated from political events and will not be affected much by what the US Election Fund produces.