Trump’s Victory, Mexico Troubles Push Price of Bitcoin to Multi-Month High
The election of Donald Trump, the future President of the United States scheduled to take office on January 20, 2017, has thrown the global economy and world financial markets into turmoil. Consequently, the price of Bitcoin has surpassed $731 and is presumed to reach a multi-month high of $745.
Contrary to most experts and analysts, Trump enjoyed a dominant victory over Democratic candidate Hillary Clinton, with a lead of 58 electoral votes.
Prior to the election however, the mainstream media and American markets predicted that Trump had as little as 15 percent chance of becoming the President of the United States. Thus, as Trump began to lead the election in the morning of Nov. 8, the US economy and market began to decline in value.
Upon the official announcement, the US dollar and stocks plummeted in value, as the Dow Jones futures decreased 700 points to 17,591 and futures on the S&P 500 and Nasdaq declined by 5 percent.
This post was published at Coin Telegraph on 2016-11-09.