First Mover: Bitcoin Heads for 24% October Gain as US Election Countdown Begins

Bitcoin had an unusually bullish October, with a 29% gain that led the monthly performance ranking of digital assets in the CoinDesk 20.

From a look-back to bitcoin's price reaction in November 2016 to the ramifications of a "blue wave" (or red), here's how to play the election.

Monday's sell-off shows bitcoin is likely to trade off with risky assets like stocks if U.S. election chaos sends markets into a fresh downdraft.

Theresa May, the British unelected current Prime Minister, has surprised and at the same time excited everyone by all the sudden calling a snap election in what may be an historical two months of campaigning. “It was with reluctance that I decided the country needs this election, but it is with strong conviction that I say it is necessary to secure the strong and stable leadership the country needs to see us through Brexit and beyond,” May said according to Reuters. No one was expecting the British election as May has univocally stated there will not be one, but the surprise u-turn sent....

According to countdown statistics based on the average block generation time of around ten minutes, progress toward the next Bitcoin block reward halving has surpassed 60%. However, while most halving countdown clocks leverage the ten-minute average, the countdown leveraging the most current block intervals of around 7:65 minutes shows the halving could occur in 2023. Faster Block Intervals Suggest Bitcoin Halving Could Happen in 2023 Just recently, at block height 757,214, mined on October 5, 2022, Bitcoin’s total hashrate tapped an all-time high (ATH) at 321.15 exahash....