As we can all agree the US election was a shock to many. The political outsider with no previous experience in office against a veteran civil servant, many could not have predicted this result. While many stocks and shares suffered, investors could see growth particularly in the digital currency sector which owing to the news has been thriving.
Bitcoin in particular has seen a good week as investors remain wary about the future of the dollar. Fiat currencies are extremely susceptible to economic and political decisions while cryptocurrencies have managed to benefit off this panic and confusion.
“The election reaction has been more nuanced than some of us foresaw – on a Trump win, I expected BTC to shoot up and stay there.”
Similar to when Britain left the EU political movements this year have been particularly massive in terms of scale moving fiat markets downwards but making Bitcoin seem the ideal investment pathway.
To conclude while the dollar and securities may have been hit by the election results, the likes of Bitcoin remain strong and instead saw a positive growth period effectively finishing the week at a price point of $714 before dropping to current prices as brief market correction occurs. Prices are forecasted to remain at the $700 price range as many wait to see how the US will negotiate a trading relationship with china if at all. You too can buy Bitcoin at competitive prices via the NairaEX exchange and have them delivered within a matter of hours. Considering the current volatility of many Asian stocks it may be a worthwhile addition to your trading portfolio.