If the Democrats win, they'll impose stricter regulations on cryptocurrencies and heavier taxes. Logically, Bitcoin should fall, so why is it rising? Because retail investors were already scared and sold off most of their holdings before the election. Once the result is announced, regardless of who wins, the big players will first pump the price to wipe out short sellers. The bad news is priced in, which is good news – that's the truth of the market. If it rises, they say the big players are being unreasonable; if it falls, they say the fundamentals are working. In any case, it's always the retail investors who get burned. That's the underlying logic!