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Bitcoin price has hit $ 15,000 today

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The bitcoin price has hit $ 15,000 today.

In fact, this morning he recorded the highest value in 2020, beating the previous record at the end of October.

Just 24 hours ago, the price was hovering around $ 13,500, while this morning it hit $ 14,500 and then took an impressive spike reaching $ 15,100.

The price of $ 15,000 was last touched in January 2018, shortly after the big speculative bubble burst in late 2017, and since then the price of bitcoin has never come close to these figures.

But, Why did it grow more than a thousand dollars in one day?

This growth is most likely linked to the outcome of the US elections.

The day before the election, November 2, 2020, the price was around $ 13,500.

On Election Day it went up to $ 13,700, while the next day, yesterday, it suffered some volatility, first going up to $ 14,000 and then down to $ 13,500, but rebounded impressively to over 15k.

In other words, at the end of the election, the price was basically $ 13,500, with some higher temporary spikes.

Uncertainty Explains Why Bitcoin Price Is Growing

The fact is that the outcome of these elections was decidedly uncertain, especially as the polls closed.

In that moment of uncertainty, Investors probably felt insecure about investing, perhaps because they feared that the outcome of the vote could be a long way ahead.

It is true that the outcome of the 2020 US elections remains relatively uncertain, and the risk of disputes probably remains high, but since yesterday the financial markets seem to be convinced of a clear victory for Joe Biden, and perhaps that possible disputes could affect this result.

Looking, for example, yesterday's performance of the Nasdaq index, it is clear that there was a real spike when it opened. After the constant decline in the second half of October, perhaps due to uncertainty, yesterday when it opened it seemed that the uncertainty had suddenly dissolved.

It should be noted that at the same time as this Nasdaq peak there was also a very similar one in the price of bitcoin, which however continued to rise due to the close of trading on the US stock exchanges.

The two curves are too similar to think that there could be no change, and since yesterday's Nasdaq curve was most likely influenced primarily by the outcome of the presidential election, it is fair to assume that the same applies to the curve. of bitcoin.

On the other hand, in mid-October a forecast included in a report published by Stack Funds indicated that the price of bitcoin after the US elections could rise to $ 15,000, analyzing in particular the historical changes in the price of BTC in relation to the call. MVRV (Market value to realized value).

There are different perspectives, but the growth of the last 24 hours seems to fit perfectly in this forecast, reinforcing the hypothesis that it is due precisely to the presumed end of uncertainty about the outcome of the elections.



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