What will happen to Bitcoin if Donald Trump or Kamala Harris win the election? Here's what to know😂😂😂😂
Bitcoin's price after the US elections is a topic of much speculation. Historically, Bitcoin's price has been correlated with the S&P 500, which tends to perform well after presidential elections . In fact, since 2000, only one year had negative returns 12 months following election day . This trend suggests that Bitcoin's price could bounce back after the election.
Looking at past election cycles, Bitcoin has consistently followed a pattern of dipping before the election and then rallying afterward. In 2020, Bitcoin experienced a 16% drop two months before the election, only to surge by 320% in the following 160 days . Similarly, in 2016, Bitcoin dropped by 30% three months before the election, but then skyrocketed by 2,000% within 400 days .
While past performance doesn't guarantee future results, these patterns could provide insight into what might happen next. Some predictions suggest that Bitcoin's price could reach $100,000 or more in 2024, with potential highs of $116,000 by October . However, it's essential to note that each occurrence has resulted in returns decreasing by about 50% each time, so a more realistic target might be $125,000 .
Possible Price Targets:
- _$1,000,000_: Based on 2012's percentage gains
- _$500,000_: Based on 2016's percentage gains
- _$250,000_: Based on 2020's percentage gains
- _$125,000_: A more realistic target, considering decreasing returns
- _$100,000_: A potential high for 2024
