Long have the markets relied on oversimplifications like bullish or bearish, hawkish or dovish, risk-on and risk-off.

Well, in the current global environment, we can probably add lockdown and recovery to the basic market themes.

It’s been nearly a week since the media declared Democrat Joe Biden the winner in the most dramatic U.S. election of our lifetime.

It’s enough to boggle the brain of even the most economic thinkers, I don’t see how the general public is expected to keep up. After all the stimulus, both monetary and fiscal, that’s been pumped into the market, inflation is still flat.

To all those who’ve fallen in the great wars, today we remember your contributions to the world, and how your actions back then have had an incredible impact on our world today.

Of all the things 2020 will be remembered for, I very much doubt that institutional adoption of crypto assets will be one them.

Is it the election, the pandemic, the rapidly declining U.S. dollar, or the combination of the stimulus we’ve seen over the last few months and the fact that all assets are rising at the moment?