Biden's 2020 victory coincided with a significant rally in bitcoin, and now Trump faces an opportunity to leverage this trend. Following Trump's recent electoral success, bitcoin has seen an 18% increase over the past month, outpacing the S&P 500's 4% rise. In contrast, after Trump's 2016 victory, bitcoin rose by only 5%. The relationship between elections and bitcoin’s price trajectory shows fluctuations; for example, following Biden's victory, bitcoin surged by 30% leading up to the election and by an additional 50% afterward, marking the beginning of its rapid ascent during the pandemic. Today, with bitcoin's market cap at nearly $1.5 trillion, it takes a significant movement to affect its price dramatically. If bitcoin manages a similar rally as it did post-Biden's election, we might see it approaching $130,000. Given its historical patterns, bitcoin may serve as a crucial metric in the upcoming electoral landscape.

Source 🔗