BTC - 2020 Being an Election Year is going to massively help Bitcoin

in #bitcoin8 months ago

Bitcoin has all the right stuff for a very good 2020!

Last year (2019) was rather interesting for bitcoin.

It was started off with lows at the beginning of the year that hovered around $3k...

Then, almost mysteriously, it was followed by bitcoin started to rise in early spring and into the summer.

Eventually peaking in late June just under $14k.

It was likely no coincidence that this peak happened right around the time that the White House started to voice their opinion on things relating to crypto...

White House poured cold water on the space...

Seemingly, right on que, the White House killed the bitcoin rally just as it was getting its legs.

First, we had the Libra bashings.

Where Facebook had to go before congress and present their plans and ideas as it relates to their planned cryptocurrency project.

https://www.cnbc.com/2019/10/23/bitcoin-plummets-as-cryptocurrencies-come-under-fire-from-congress.html

Then we had the treasury secretary weighing in on bitcoin and how he said it was used for nefarious things but cash was not, yea he actually said that...

https://www.cnbc.com/2019/07/18/mnuchin-says-us-will-ensure-bitcoin-doesnt-become-like-anonymous.html

And finally, we had the now infamous tweets from one Donald Trump where he stated that he was "not a fan of bitcoin and crypto".

https://www.coindesk.com/us-president-donald-trump-says-hes-not-a-fan-of-bitcoin

Bitcoin has mostly been in a downtrend ever since those things happened.

However, bitcoin and crypto are likely to get some major cover this year due to the 2020 Election!

Since this is an election year, most of Washington is going to be focused on that.

They won't be going around bashing bitcoin and crypto and risking ticking people off.

This year will be all about winning fans and votes and will likely provide bitcoin and crypto some cover in which it can quietly grow.

Combine this type of environment with the easy money policies, low interest rates, and a halving event and I think we have everything we need to see a great year for bitcoin and crypto.

I second the view of one Mr. Tom Lee that bitcoin will at least double this year, with even more gains likely in the cards as well.

My personal opinion is that bitcoin breaks $20k several months post halving and ends the year even higher.

How much higher I can't say for sure, but by the end of next year (2021) I think we will have seen bitcoin get dangerously close to $100k at some point.

And the cover provided this year due to the election year will be exactly what bitcoin needs to help it get there.

The next 24 months should be very exciting!

Stay informed my friends.

Image Source:

https://bitcoinist.com/is-bitcoin-quickly-becoming-a-2020-election-issue/

-Doc

Sort:  

I think a lot of attention will be put on Bitcoin and cryptocurrencies this coming election year. No doubt some it'll become a sticking point for some candidates, either going for, or against cryptocurrencies. Though we at least have more candidates that are open-minded about their approach to crypto.

I honestly don't think it will be much of an election issue this year. We shall see.

Thanks for this post.