A Joe Biden Victory is Bullish for Cryptocurrency

A lot of people in the cryptocurrency market seem to not be interested in the political use cases and ramifications of cryptocurrency (as opposed to 2017 and before where the chats were rife with talks on politics, economics and other areas of study). What people also fail to see is that one of the fundamental use cases of cryptocurrency is protection from socialism which in every historical case has led to communism.

With the USA election results hanging for days and Joe Biden in the lead to win (by possibly cheating no less) there are some things one must analyze.

If the dems did in fact cheat (which there is a good bit of evidence to support this claim being made by many) what will ensue? Will there be more unrest?

There are already talks of civil war brewing.

How will this effect the US Dollar? Its already not looking good as the DXY has failed a break out from a descending wedge (which is a bullish pattern, but when they fail is very bearish).

With states like California attempting to pass laws that would force anyone who moves out the state to pay taxes for years after leaving the state: https://www.forbes.com/sites/robertwood/2019/12/03/leave-california-keep-paying-california-taxesreally/ It’s clear to see why people are scared and want to protect their wealth.

A Joe Biden win for the Democrats will put the Americans into a situation where you will see more of this. More taxes, more exit taxes, more money printing, more wasted tax dollars on programs and identity groups that are ultimately driving more division between each other in a country that is supposed to be attempting to be a melting pot.

A Joe Biden win will also mean that people will become more and more afraid of this socialist push on the American citizen and look for ways out, places to store their wealth. Cryptocurrency is the one and only place in the current day that this can be done. It cant be done with gold or silver, it cant be done with an off shore account. With cryptocurrency, one can remember a private key, dress like an average person and get on a plane. We WILL soon be at a point where rich people will be hiding in plain sight, pretending to be lower middle class or even poor. As hatred for the rich and even the middle class is on the rise.

In the past even gold has been confiscated from people by force. Bank accounts can be frozen and you can be forced to sell stock. Anything is fair game when people are increasingly desperate to keep the wheels spinning. But with the USA in trillions of dollars of debt which will increase far more under a democratic rule, how long will the wheels continue spin?

For those who do not live in the USA and think this does not effect them, think again. All western countries combined are also estimated to be over 100 TRILLION dollars in debt. A Joe Biden win will also effect foreign relations and more pushes world wide for more regulation, more censorship and more debt. It’s like the entire world is paying off an un-payable credit card debt with another credit card, and what you see effecting your every day life are bandaid solutions to control the masses from the real issue.

With the world being so connected in the current day and all of the worlds economies linked together, this will effect the entire world.

Categorised in: Cryptocurrency Markets, Politics

This post was written by BlockAdvisor