Bitcoin: Biden Win Might Help BTC Rally (March 2020)

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Bitcoin: Biden Win Might Help BTC Rally (March 2020)

Bitcoin is still waiting on the stock market for its next big move but yesterday’s developments might prove to be helpful for Bitcoin as the S&P 500 (SPX) starts trading today. We have previously noted how closely BTC/USD follows the stock market and if we see the market react positively to the recent Biden win on Super Tuesday, Bitcoin is likely to follow. It is important to realize that the stock market is currently at a point where big swings to both sides can be expected. Interestingly enough, BTC/USD is now at a similar point and thus equally prepared for both outcomes. No matter which way the price swings next, it is expected to be decisive and would shape the direction of the market for weeks to come.

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