What About Election Year; How Will It Affect Bitcoin?
2024-06-18

We have experience with 2018 (mid), 2020 (pre), 2022 (mid) and now 2024 (pre).

Ok... I will need your help because this is all speculative opinion and we have no experience with politics... How is Bitcoin likely to be affected by the USA elections?

➖ We have experience with a capitulation process matching the 2018 midterm election (bearish-negative).

➖ The 2020 presidential election resulted in a continuation of a major bullish cycle. Capitulation happened much earlier but in the same year (March 2020).

➖ In 2022 the midterm election matched another capitulation process and bottom (bearish-negative).

➖ In 2024, we can assume that Bitcoin will be in a bullish phase when election time comes; based on previous patterns and price dynamics.

👉 Since Bitcoin is shaking now, we can say that the current market situation supports our main bias. Rather than Bitcoin producing a low now, June/July, and then moving to produce a lower low in November to then proceed to perform its major bull-market bull-run bullish rally, instead, Bitcoin can easily produce whatever bearish/negative action it needs to produce now, June-August, to grow straight up all the way to the new ATH in 2025.

👉 Based on past history, we can assume that this election year will be positive for Bitcoin.

Not that I am biased to my own projection, but that a correction is needed sooner rather than later for the historical patterns to hold.

Please, share your own views and opinions in the comments section below.

Namaste.