The Hype Lies

The Election has been a sought after event for the stock market all year, and volatility really ran in the past two weeks. The uncertainty in the country seemed to just run higher and higher every day, and the market dropped at alarming rates. However, today closed as the highest increase EVER in the day after the election. Who would have thought of that? Arguably, the most anticipated and chaotic election results in the best next day session in U.S. election history. To add confusion, it was theorized that if Trump won the market would trade higher and if Biden won it would drop. I’m not sure how much I believed in this, but it was a common theory among investors. When Trump gained an early lead last night, future spiked up quick, following the theory. Although, when Biden started to take a lead the market did not teeter off, it kept on going up. Moral of the story –> do not drink the hype juice right away. Always do your own due diligence. In other trends from the night, we saw Bitcoin ($BTC) hit a 52-week high. Whenever Bitcoin starts to run, the altcoins always follow a few days after, which means a nice pump for ChainLink ($LINK) could be coming very soon, be on the lookout.

-Darnel Shillingford

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