Bitcoin price continued to rise as the US presidential election continued, reaching over $ 14,300. Market followers were wondering if Bitcoin would be negatively affected by the elections. Bitcoin price continues its uptrend regardless of the elections, according to the current chart.
Bitcoin (BTC) is trading at the highest levels in the past three years after toppling the $ 14,000 threshold. BTC continued its steady rise and managed to raise its price to $ 14,342 this morning. BTC only managed to break above $ 14k 3 times, and exceeding $ 15k could serve as a milestone for the leading coin, according to analysts.
Bitcoin market dominance now stands at 63.61%, according to Coingecko data. TradingView data shows that Bitcoin dominance has risen up to 65% since May. Altcoins are having a hard time while Bitcoin is dominating. Some analysts argue that this rise of bitcoin may encounter resistance and there may be an opportunity for altcoins to recover.
Didn’t care about the uncertainty of the elections
The bitcoin price has increased by 3.8% in the last 24 hours and is now closer to the all-time high of $ 20k. On the Bitcoin charts, the fifth green candle in a row started to form. While the presidential election rush continued in the USA, it was thought that the uncertain environment could adversely affect Bitcoin. But it was not expected and BTC managed to continue its trend. Both $ 14,000 and the election comment came from the Morgan Creek Digital co-founder Anthony Pompliano Twitter account.
Bitcoin over $14,000 again.
Bitcoin doesn't care who the President is.
— Pomp 🌪 (@APompliano) November 4, 2020
“Bitcoin is again over $ 14K.
Bitcoin doesn’t care who is the president. ”
Speaking to CNBC, mutual fund manager Mike Novogratz stated that unlike other assets, digital assets stand firmly against the elections. Building on this comment from Novogratz, Bitcoin not only remained solid, but also rose.