The Bitcoin Price May Never Fall Below $70,000 Again

The US presidential election results are all that remain. While the elections were underway, Bitcoin traded slightly over $70,000. This price should be watched since history suggests it may be Bitcoin's future support. This behavior is related to Bitcoin prices in prior US elections.

The Bitcoin Price May Never Fall Below $70,000 Again

Bitcoin has been rising since Monday, when it rallied from $67,000. Bitcoin averaged $70,110 during the 2024 presidential elections as this run continued.

Bitcoin's value has fluctuated over U.S. election cycles, marking important price points that build long-term support.

We must examine the prior four election cycles to understand this tendency. It seems unfathomable that Bitcoin traded at $10 on US presidential election day in 2012, when the crypto sector was only starting off. Bitcoin's election-day price reached $710 in 2016, a record it has never surpassed.

The most intriguing was what occurred after the 2020 US presidential election, when Bitcoin was $13,555. From then till now, Bitcoin has never returned to this price threshold. Even more intriguing, this price point was the lowest support level during the 2022 bear market plunge.

These historical tendencies suggest that Bitcoin's 2024 election-day price of $70,110 might become a price floor in the future. This level might be crucial if a bear market breaks out.

Bitcoin is over $73,200 following a 24-hour rally. Bitcoin rose over 10% in a day to $75,358. After surpassing $73,737 in March 2024, this is Bitcoin's highest trading level.


The Bitcoin price has dropped back somewhat owing to investors cashing in on recent gains, but the climb could continue soon. Bitcoin might challenge $80,000 before November if purchasing enthusiasm continues to fuel the increase.

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