Bitcoin is on fire! 🚀 It's surged to a new all-time high (ATH) of $81,500 in the past 24 hours, following historical patterns of significant gains after U.S. presidential elections 🗳️. This trend is music to the ears of crypto investors, who are cautiously optimistic about Bitcoin's solid foundation 🤞.

Historical Context:

In the last three U.S. presidential elections (2012, 2016, and 2020), Bitcoin saw substantial growth:

1- 22% increase in 2012

2- 37% increase in 2016

3- 98% increase in 2020 

Current Trends:

Experts from CryptoQuant note that Bitcoin is reasonably priced and hasn't been pushed too high 📈. This suggests positive factors from the upcoming election could drive strong growth. Demand for Bitcoin is increasing at a similar pace to previous elections, with a current growth rate of 248,000 BTC per month, the fastest since April 2021 🚀.

Key Takeaways:

1- Bitcoin's current price reflects fair valuation, similar to pre-election prices in 2016 and 2020

2- Demand is growing steadily, with no signs of slowing down

3- Historical patterns indicate significant price increases following U.S. presidential elections

Stay tuned for more updates on Bitcoin's thrilling ride! 🎉

#BTC☀ #BTCNear82k #MicrosoftBitcoinRejection #btcupdates2024 $BTC