Biden Officially Won - How will this affect Bitcoin Prices? TA confirms shocking truth ahead

After a gloomy start for 2021, the world was shaken by the big protest that happened yesterday. Trump supporters stormed the US capitol instigating chaos and disorderly conduct. With the current equity markets at all-time highs, the cryptocurrency market has a BIG ADVANTAGE in terms of 2021’s price forecast. Read on to know why Bitcoin will easily reach USD 40,000 and the cryptocurrency market is set to a bigger market cap.

US Markets poised for a Heavy Price Adjustment

In an unprecedented move, Bitcoin managed to pass the USD 37,000 price. This comes as no surprise as the US enters a chaotic moment, where protests and uncertainty swiped the Capitol. Equities are still at all-time highs, but are expected to drop in prices significantly due to several factors:

Bad handling of the Corona Virus resulting in high unemployment
Excessive Dollar printing
Inflated equity market
Bad transition of presidents

**Fig.1** SPX500 4-hour chart showing prices at all-time high despite bad macros – TradingView.com

Usually, when markets are doing well, investors tend to buy stocks, bonds and equity in general. But when economies are doing bad, investors sell equities and go towards commodities such as Gold.

In today’s world, commodities became a thing from the past with the rising popularity of cryptocurrencies, most notably Bitcoin, which is being designated as Gold2.0 by financial institutions and big banks.

Bitcoin Price Forecast – USD 40,000 soon?

Here comes the big elephant in the room. Yes, Bitcoin is set to further higher prices, potentially reaching the USD 40,000 price mark as anticipated by many analysts. This comes down to several facts:

Bitcoin breached USD 37,000 already
Bitcoin prices need a push of around USD 3,000 and it is known to make even bigger moves like USD 7,000 in 1 day
The fundamentals are screaming higher prices: bad US macros, overpriced equity markets, people switching from Gold to Cryptos
Big Institutional pumps
And finally, in figure 2, we see that Bitcoin Prices are WELL ABOVE the moving averages, paired with HIGH VOLUMES