Bitcoin remains to be the top cryptocurrency ahead of the US election. It also signals a boost in price, which depends on the expansion of dollars.
The US election is now in its final hours, and the world is now curious about how it will impact the economy. In particular, digital assets like gold and Global Dow are both up by 0.2%, as of the time of writing. On the other hand, Bitcoin remains to be the top cryptocurrency with a total market capitalization of over $250 billion.
Aside from its huge market cap, Bitcoin is trading above $13,000, with a growth rate of 4.6% in the last seven days. If this goes on, Bitcoin price may reach $14,000 and even go higher to $14,500 if the market continues to favor the crypto.
Bitcoin price is not reliant on the US elections results, but the expansion of dollars may impact the crypto’s price movement. In 2019, the major crypto investment firm, Grayscale, released a study about Bitcoin. This research discussed the potential market and expansion of Bitcoin in 2020.
More than half (55%) of survey respondents expressed interest in Bitcoin investment products. This marks a significant increase from the 36% of investors who said they were interested in 2019.
Regardless, Bitcoin has already proved itself to be a worthwhile investment in this time of the pandemic. In a report, Bitcoin is eyeing a trillion of investment due to its great performance in the past few months.