CandleFocus Bitcoin Likely to Rally After the U.S. Election, Irrespective of Who Wins, History Shows: Van Straten
2024-11-04
Author: Content Editor
According to historical data, Bitcoin is expected to surpass $100,000 after the U.S. election. The cryptocurrency has shown a pattern of rallying after each previous U.S. election and has never dropped back to its election-day price. In 2012, Bitcoin increased by almost 12,000% over the course of a year following the election. In 2016, it appreciated about 3,600% in a little over a year, and in 2020, it rallied 478% to reach a market top of around $69,000 a year later. However, with each subsequent cycle, the size of the price jump has decreased, indicating diminishing returns. If this trend continues, the post-election rally in 2025 could be around 47.8%, taking Bitcoin to approximately $103,500. Currently, Bitcoin is undervalued compared to previous cycles, adding to the potential for future growth.
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