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Analysts: BTC Usually Falls Before U.S. Presidential Elections, Bounces Back Afterward

Analysts: BTC Usually Falls Before U.S. Presidential Elections, Bounces Back Afterward

Bitget2024/08/28 12:55

Bitfinex analysts said that in previous U.S. election cycles, such as 2016 and 2020, Bitcoin experienced significant declines prior to the election, followed by a significant post-election rally. This pattern was also observed in 2012, suggesting a recurring trend associated with election seasons. 
Historical data shows that in 2016, Bitcoin's decline prior to the U.S. election was even more pronounced, dropping 30% about three months before the election, with the price dropping from around $750 to a low of $500. (The Block)

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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