Bitcoin keeps rising, but the real concern is something else: after a Democratic victory, cryptocurrencies could face tighter regulation—even a hefty 50% tax. By that logic, prices should be falling.
But the market plays by casino rules. Before the election, plenty of nervous traders had already bailed. Once the result was in, the so-called big players might push prices up first and liquidate the short sellers. Expectations for policy haven't changed, but the market has already acted out the “bad news is priced in” scenario.
When prices rise, people say the big players are manipulating the market unfairly. When they fall, they say fundamentals have finally kicked in. Both explanations work, but retail investors' wallets have a hard time keeping up.
Binance Wallet invite code: MOLLY666
But the market plays by casino rules. Before the election, plenty of nervous traders had already bailed. Once the result was in, the so-called big players might push prices up first and liquidate the short sellers. Expectations for policy haven't changed, but the market has already acted out the “bad news is priced in” scenario.
When prices rise, people say the big players are manipulating the market unfairly. When they fall, they say fundamentals have finally kicked in. Both explanations work, but retail investors' wallets have a hard time keeping up.
Binance Wallet invite code: MOLLY666
