Amidst the close-to-call US presidential election which pits Joe Biden against the current US President Donald Trump, Bitcoin – managed to reach the $14K mark, striking a two-year high for the most recognizable crypto. Bitcoin’s (BTC) market price value is currently flirting around $14,166 as of press time, while the overall crypto market cap blossomed by about 2.61% as well. Notably, traders now have a cumulative total of over $405 billion in crypto assets.
This development is, in fact, the opposite of what was initially perceived by the masses. They feared that the financial market would go awry as the feeling of uneasiness lingered in the wake of the very competitive presidential election. This notion turned unexpectedly false, for now, at the very least.
The Dow Jones also went up by 600 points as a result of the ongoing election. It jumped by more than 2% since the market opened up today, marking its best day since the financial market’s resurgence last mid-July. Furthermore, large corporations such as Apple, Facebook, Google, and Amazon performed significantly as well, rising by over 4% each.
As it currently stands, the US presidential election is still too close to call decisively. That being said, it does not matter if Biden wins or Trump extends his regime, crypto traders are now happily convinced that all these have been good for Bitcoin and the crypto industry as a whole.