The Democratic contender won the critical swing state of Wisconsin in the afternoon hours of the US trading session. His lead became critically important after Donald Trump logged a narrow win in other battleground states, including Texas, Florida, and Ohio.
So far, the outcome remained uncertain as other crucial states like Georgia, Michigan, and Pennsylvania continued to count votes. The latest readings showed that Mr. Biden is leading Mr. Trump by 248-211. They need at least 270 electoral votes to win the US presidency.
Biden, Bullish, Bitcoin
Meanwhile, Bitcoin traders continued to treat a leading Mr. Biden as their cue to stay bullish on the cryptocurrency. BTC/USD – throughout the voting tally period – tailed the Democrat’s performance. A lead for Mr. Trump slowed down its uptrend – and vice versa.
Analysts agreed that a concise victory for Mr. Biden is bullish for Bitcoin. The candidate promised its voters that he would boost the government spending required to aid Americans through the economic aftermath of coronavirus.
But independent market analyst Michaël van de Poppe warned. He noted that the uncertainties surrounding the ongoing election’s outcome would make it difficult for Bitcoin to hold a rally above $14,000.
Bitcoin was trading at $14,051 at the time of this writing.