History is remarkably similar, and Bitcoin has a special connection with the U.S. elections!
2012 U.S. Election: Bitcoin experienced a dramatic drop of 75% just 80 days before the election. After the election, it began a crazy surge!
2016 U.S. Election: Three months before the election that year, the price of Bitcoin fell from about $750 to a low of $500, a decline of over 30%. It also started a rebound bull market.
2020 U.S. Election: In the two months prior, Bitcoin had a sharp drop of about 16%, falling from $12,000 to about $10,000, and then entered a period of consolidation until a rebound occurred at a key moment before the election. By May of 2021, it shot up to $60,000!
2024 U.S. Election: Three months before the election, on August 5, a plunge to 49,000 occurred, and on October 7, a new round of rally began.
Conclusion: By reflecting on history, one can understand the rise and fall! What seems inevitable in hindsight often appears inconspicuous at the time.
The election results will be out the day after tomorrow.
If Trump is elected, the crypto market may rise in the short term; if Harris is elected, the crypto market may fall in the short term, both can influence the direction of the crypto market for two months.
