Not only the crypto money markets, but almost all traditional markets have focused on the US elections to be held on November 3. Although the Bitcoin price rises with this uncertainty before the elections, November 3 may be a date that changes everything. So how did the leading cryptocurrency react to this development in previous years?
US stock markets have seen an incredible increase in volatility due to this uncertainty for almost two weeks. In fact, it seems that the crypto money market and the Bitcoin price have experienced similar results in previous elections. Looking at the November 2012 data, it is seen that actually BTC has a very different course from the current one.
BTC lost around 20% about 2 weeks before the 2012 elections and did not recover until weeks later. However, it is information that investors should know that Bitcoin volatility is much more in 2020 and that it is now decreasing.
In the 2016 elections, it is seen that the Bitcoin price decreased again, but this time the rate of decrease was different. The leading cryptocurrency, which fell 10% and more five days before the election, only returned to its previous level in a period of 1 week. However, it is known that BTC started an incredible bull run after both elections.
This Choice May Be Favorable For The Bitcoin Price
When looking at the pre-election dates in 2020, it is seen that BTC has experienced the opposite rise. If the Bitcoin price, which rose from $ 10,000 to $ 13,700, performs similar to previous years after the election, everything can change. BTC actually gave hope to investors by experiencing a rise rather than a fall before this election. If the price rises after the election as in other years, a much stronger rally can be seen than the other bulls.
Especially breaking the critical $ 14,000 and $ 16,000 resistances could ignite the fuse of the rally that will change everything.