The US elections are upon us, and the crypto world is on edge. With everyone from former President Trump to Vice President Harris weighing in on crypto, it’s no surprise that everyone’s wondering how the election will impact Bitcoin and other cryptocurrencies.
Sell-The-News?
One trading firm, QCP Capital, thinks the election will be a “sell-the-news” event. They’re predicting that many investors will sell their Bitcoin after the election, just like they did after the Nashville Bitcoin conference.
The reason? High volatility in the market. Right now, there’s a lot of uncertainty about what will happen to Bitcoin’s price after the election. Many investors are expecting big price swings, and they’re preparing for the worst by buying “put options,” which protect them from losses.
Binance Traders Go Long
But not everyone is bearish. Binance traders are actually starting to buy more Bitcoin futures, which suggests they’re expecting the price to go up. This could be a reaction to the recent dip in Bitcoin’s price, with some investors seeing it as a good opportunity to buy low.
The Bottom Line
It’s anyone’s guess what will happen to Bitcoin after the election. But one thing is for sure: it’s going to be a wild ride. Stay tuned!
