Bitcoin Historically Surges 54% On Average Post-US Midterm Elections, Binance
Despite trading more than 40% below its all-time high, with $70,000 serving as a short-term support level, Bitcoin (BTC) may be poised for a repeat pattern that could lead to a 54% increase following this year’s US midterm elections. New research from cryptocurrency exchange Binance suggests that, historically, the aftermath of midterm elections has been positive for both the Bitcoin price and the S&P 500. Will Bitcoin Follow Historical Patterns? The research shows that since 1939, the S&P 500 has reported no negative returns in the 12 months following midterm elections, averaging....
Related News
Bitcoin accumulation during the 2022 bear market looks stronger than in 2018 but macro headwinds could spoil the party this time around. While Bitcoin (BTC) investors may not consider the U.S. midterm elections as a significant event, an eerie fractal from 2018 may provide a clue to what could happen before the year ends.Bitcoin to hit $12K–$14K after midterms?Comparing Bitcoin's price actions prior to the midterm elections of 2018 with those of 2022 shows a strikingly similar bear market trend. For instance, BTC price trended lower in 2018 while holding a horizontal level near $6,000 as....
The Bitcoin and crypto market is kicking off what could be an extremely important week. While the market is currently overwhelmed by the news surrounding the battle between Binance CEO Changpeng Zhao (“CZ”) and FTX CEO Sam Bankman-Fried (“SBF”), the midterm elections and the release of the CPI data in the US are two major events that could be of crucial importance for the market. As Bitcoinist reports, CZ had announced on Sunday that Binance will sell all of its FTT tokens after a report surfaced that FTX’s books are in trouble. Even though FTX and Alameda have denied the rumors, a....
As Bitcoin (BTC) seeks to solidify its position around $71,000, the cryptocurrency faces a challenge from the $74,000 resistance level that has so far prevented a decisive breakout. However, recent insights from Bloomberg indicate that a collection of indicators, historically associated with the conclusion of downward trends, suggest the current sell-off may be reaching its final phase. Bitcoin Recovery In Sight? Brett Munster of Blockforce Capital said that one of these indicators has already entered a range that has frequently preceded past lows. Meanwhile, two others are indicating....
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says U.S. crypto regulations will not come out until after the midterm elections. He explained that President Joe Biden “is not interested in discussing crypto” when his approval ratings have sunk to record lows. O’Leary also cited other factors, including double-digit inflation and high food and gas prices.
Kevin O’Leary on Crypto Regulation, Biden’s Policy
Shark Tank star Kevin O’Leary talked about bitcoin and cryptocurrency regulation in an interview with Stansberry Research,....
Stand With Crypto, an advocacy group backed by crypto exchange Coinbase (COIN), has unveiled its first endorsements for the upcoming midterm elections in the United States and unveiled a new online voter hub aimed at mobilizing pro-crypto voters. Stand With Crypto Builds Voter Tools In a Thursday press release, the organization said it will back […]