$TROY $BTC $SUI
🔥 BTC price prediction After US election :
The US election is just around the corner, and crypto enthusiasts are eagerly waiting to see how it will impact Bitcoin's price. Historically, Bitcoin's price on US election day has served as a price floor for a parabolic rally ¹. In fact, Bitcoin has never dipped back lower than its price on election day and has always gone parabolic after a US election.
This time around, analysts anticipate increased volatility as the election approaches . Some expect it will trigger another “sell-the-news” reaction, similar to what was observed at the Nashville Bitcoin conference. The crypto community slightly prefers former President Donald Trump winning the election due to his pro-crypto stance, adding complexity to market predictions.
Possible Price Movements:
- _Bullish:_ If history repeats itself, Bitcoin could go on a parabolic run in the two months left in 2024 and well into 2025, potentially breaking past its all-time high of $73,777 .
- _Bearish:_ Conversely, if BTC continues to decline, it could retest its key psychologically important level of $66,000.
🔑 Key Factors to Watch:
- _On-chain metrics:_ Analysis of on-chain metrics provides insights into Bitcoin's movements, with Santiment's social volume data indicating that spikes in mentions of political candidates often correlate with market rallies.
- _Whale activity:_ BTC whales have shown declining transfer volumes since last week, which could signal their anticipation of the crowd's reaction to events and the volatility generated by smaller traders.
🤔Keep in mind that these predictions are subject to change, and it's essential to stay informed and adapt to market fluctuations. Would you like more information on Bitcoin price predictions or analysis?
