Two Events but One Prediction, How Will the Coming Days Shape Bitcoin (BTC) Price Action?


The coming days will see two key events unfold which may impact BTC price action. First, November 3rd forms the date of the 2020 U.S. Presidential elections, an event whose outcome is widely believed to have an immediate impact on macro markets. Second on the same day, November 3rd, Bitcoin will see a difficulty readjustment. This metric is presently down at nearly 10.4%, the biggest plunge recorded since late March.

BTC/USD Daily Chart

So far it has been a tremendous month for the flagship asset as it will most likely finish October with one of its highest monthly closes on record. Concerning the US upcoming elections, Grayscale CEO Barry Silbert, say both a Trump or a Biden win would buoy BTC. The CEO made his deductions after a recent study by the investment firm highlighted that the potential market for Bitcoin has significantly grown this year 2020.

Interest in Bitcoin rises from 36% to 55% in one year. Courtesy: Grayscale

Image Credit: Grayscale, Shutterstock

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