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The US elections are about to end, how do the markets react?


Markets, both securities and crypto, have been reeling in the wake of the US elections. Yesterday both reacted positively as the race tightened, today they diverge.

Bitcoin continues its bullish path, the stock market takes another path

Yesterday, Bitcoin managed to hit a new annual high for the day above $ 15,000, and later it almost touched $ 16,000.

Right now, Bitcoin is trading at $ 15,572 according to the CryptoTrend tool, Crypto Online.

However, the stock market, despite having been in the green yesterday; today the Dow Jones received a hard blow and fell 66.78 points, which corresponds to a fall of 0.24%. Also, the S&P 500 lost one point earlier today.

The reaction of the markets is as a consequence of the United States elections. Currently Biden has a clear advantage and, although he has not yet reached the necessary 270 referees, the numbers point to his victory.

Consequently, the markets react to Biden’s victory and the possible passage of a bill for the relief of the coronavirus, that is, the Fed will have more work.

The stock market has reacted negatively to the events but the leading crypto continues to point upward.

Vitalik Buterin puts his hands on fire for crypto Ethereum 2.0

Ethereum co-founder Vitalik Buterin sent around 3,200 ETH, a crypto worth about $ 1.5 million to the Ethereum 2.0 deposit contract.

Currently 32 ETH is required to bet on the blockchain, however, Buterin did not settle for the minimum. Bear in mind that the amount of crypto that is deposited must remain stored for a period of at least two years.

We will see ETH 2.0 phase 0 crypto in December

Precisely with the previous news, a date has been given for the launch of phase 0 of ETH 2.0. As we reported in CryptoTrend, it will be on December 1.

After many years of suspense, finally the crypto community has a definite date for the first launch of ETH 2.0.

Square’s crypto app Cash is more than happy with Bitcoin

The third quarter of the year report for Cash, Square’s crypto application, was recently published, where the firm attributed most of the income to Bitcoin. Specifically, 80% of revenue.

Likewise, the report revealed a 1,100% growth in Bitcoin revenue over last year.

DeFi swallows bitcoin dust

For a long time DeFi was the center of attention of the crypto market, however, Bitcoin decided to claim the place again.

Overall, DeFi sparked FOMO sentiment in the crypto community, leading them to look away from Bitcoin. However, the economic and political context renewed the appeal of Bitcoin and left DeFi behind.

Just today Changpeng Zhao, CEO of Binance, wrote a Tweet pretty funny where he said: “Bitcoin tells DeFi: Grab my beer.” This as a way of saying that now it is Bitcoin’s turn to show what it is capable of.

In a few lines …

  • UnionPay will offer a new virtual card that will have support for crypto.
  • Jerome Powell Says Fed Should Increase Money Printing, Tyler Winklevoss assures that his speech is a clear signal to buy crypto, specifically Bitcoin.
  • Bank of Russia expresses its crypto interest in developing its own digital currency.

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