Anyone who invested $1,000 in Bitcoin on US election day in 2016 saw a phenomenal return to over $10,000 the following year. This heavily suggests how connected the crypto world can sometimes be with elections and gives an inkling into what may lie ahead in this election cycle.
Looking ahead to how the incoming president will affect cryptocurrency, however, it’s difficult to say precisely how policy could shape markets. Anyone who says he can predict markets is lying, but certain trends do have a tendency to repeat.
Among those are the usual post-election market reaction when a candidate assumes the presidency and the longer-term growth patterns exhibited by major cryptocurrencies like Bitcoin and Ethereum. Historically, how have Bitcoin and Ethereum prices reacted in the wake of presidential elections?
2024 US Election Poised to Ignite New Crypto Bull Run
US election days in the past have always carried great weight in financial markets, and crypto has become increasingly sensitive
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