Bitcoin hits over $14,000 hours before the end of the US Election.
After a earlier dip the night before, people seem to be hedging against the US Dollar by diversify into Bitcoin. Driving the price higher before the announcement of the next US President.
There is strong resistance right around $14,500, if it can break this number, it could continue climbing ...
There is also about 5x greater activity in trades today than the past few days leading up to the election.... this sign of greater activity is often a sign of greater price movements as things can quickly escalate (or dramatically drop from active trading)
While 1/2 the world waits to hear the results of this possibly contested election .. ANY solid outcome will likely result in Bitcoin being stable ... the danger (or opportunity for investment) comes from a close call or uncertainty in the outcome that could drag on for months .... dragging the security of the stock market down with it.
With Bitcoin showing greater sovereignty recently away from the stock market following it's own move (raising while the traditional stocks drop) will Bitcoin follow along with a greater recession due to uncertainty?
Or will the uncertainty result in people pulling the funds from Bitcoin trying to gain liquidity to tide them over in highly challenging times .... What are your thoughts? Leave a note in the comments on what you think will happen . . .
