Cryptocurrency investors are asked to wait patiently for the Bitcoin (BTC) surge as the current situation does not provide an opportunity for the digital asset to jump past $ 12,000.
Analysts assume the situation will remain for several months, at least until the US presidential election.
Yes, the political scenario in the country has a huge influence on the crypto market. Just like the big world companies affected by the COVID-19 outbreak.
If you follow the news of the death of US High Court Judge Ruth Bader Ginsburg you will know that the incident also affected the bitcoin currency.
The sad news is that BTC is declining badly unlike most major equities in the US. This is because when conventional assets run out, investors will dilute their holdings to protect liabilities.
Trade Block Director John Todaro explained that the political situation was not only affected by fiat currency but also by digital currency.
"The vague situation will cause concern and the market will be more frightened with the elections that will take place soon," he said.
Thus, it is not impossible for bitcoin to recover due to declining equity momentum.
The BTC / USD jump can be confirmed in a few months, proving that the currency is able to penetrate to the highest level.
