U.S. elections often bring significant changes to the cryptocurrency market. Analysis of charts shows that the price of $BTC typically rises slightly before the elections and maintains an upward trend afterward.
This is because the incumbent administration usually tries to stimulate the markets, showcasing their success and stability. The new administration, on the other hand, aims to establish itself and validate the voters’ choice.
The geopolitical uncertainty that arises immediately after the elections also has a substantial impact, prompting investors to seek safe-haven assets.
We remind you that the next U.S. elections will be held on November 5, 2024.
