Expert Says: Bitcoin (BTC) Spikes to $400K if Biden Wins US Election

Expert Says: Bitcoin (BTC) Spikes to $400K if Biden Win US Election

Financial Guru Max Keiser says that Bitcoin is projected to reach $400,000 (approx. £303,862) in case Joe Biden, a Democratic presidential challenger wins the US Presidential election.

Max Keiser Tweet on BTC
Max Keiser Tweet on BTC

The US Presidential election is a trending topic right now around the world. While the US is getting ready for the election results, a number of data demonstrate and traders are expecting cryptocurrency fluctuations. 

Keiser mentioned in a tweet,

A Biden win will trigger a stampede into Bitcoin as the global wealthy attempt to escape.

The cryptocurrency ecosystem is hovering over $447 billion. This shows a difference from where it was in the last US election in 2016. However, the digital currency king Bitcoin is now set to rise far beyond its former all-time high. According to CoinGecko, the BTC price is at $15,438, at the time of writing.

Bitcoin Price Chart 1-Month (Source: TradingView)
Bitcoin Price Chart 1-Month (Source: TradingView)

Moreover, Joe Biden edged toward the vote number of 270 electoral votes needed to win the White House. Presently, Bidden leads with 264 electoral votes and Donald John Trump, current president of the US with 214 electoral votes. 

2020 US election results update
2020 US election results update

Recently, Forbes mentioned that the stock market has also better performed well after the Presidential election in 2016. This shows that the election also has a direct impact on the stock market like the cryptocurrency market. Moreover, Biden expected to beat Donald Trump in the 2020 US election, bringing a great change in BTC price. 

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A Professional HR with a huge interest in blockchain technology and cryptocurrency. Through her content writing skills, she became a passionate contributor to the crypto space. Being an active crypto enthusiast she is investing her time and experience into the digital sphere.