Bitcoin (BTC), the world’s first and largest cryptocurrency, has been associated with several bull runs over the years. One of the most notable uptrends occurred in 2012, and financial analyst and cryptocurrency expert Aditya Siddhartha has linked it to the United States of America (USA) Presidential Elections.
According to Siddhartha, the 2012 Bull Run of Bitcoin was preceded by a significant drop in BTC’s price, with a decrease of 52% observed in the market. However, after the moving average convergence/divergence (MACD) Bullish Crossover and all major exponential moving average (EMA) Bullish Crossovers, the market started to gain momentum, and the bull run began.
In the case of BTC’s 2012 bull market, MACD and EMA indicators provided positive signals leading to increased investor confidence resulting in a post-Presidential Elections bull run where Bitcoin’s price increased by an astounding 11800%.
Similarly, Siddhartha observed that before US Presidential elections held in November 2016; BTC experienced a drop of around 41%. However following MACD bullish crossover along with other significant EMAs’ bullish crossovers signaled investors for buying opportunities which resulted into another historic surge as soon as election results were declared. Post-elections bitcoin saw massive demand from investors who considered it as digital gold or store-of-value asset class due its limited supply cap at only twenty-one million coins ever mined on blockchain network.
Following this trendline analysis based on technical charts & historical data patterns – analysts predict similar trends could repeat themselves during future presidential cycles too!
Furthermore,Siddhartha has suggested that we may see Bitcoin reaching $40k mark before Pre-Presidential Election cycle starts again next time i.e.,2024.However he also anticipates some correction phase beforehand like previous times ranging between25%-30%. As per his predictions once again MACD bullish crossover and all major EMAs bullish crossovers will provide positive signals leading to increased investor confidence resulting in a post-election bull run. This time, Siddhartha expects the price of Bitcoin potentially increasing by 450%, resulting in a price range of $180,000-$200,000.
At present BTC’s prices have been on decline since Saturday as it has lost its previously established tradingSponsored Product range between $28,500 and $29,600 failing once again to breach key level at$30k mark which is considered important psychological barrier for investors/traders alike.Currently,BTC is reporting loss of around 4% within last twenty-four hours but question remains whether bitcoin can stop this trendline & attempt another surge towards surpassing that crucial resistance level?
According to CryptoCon who follows Elliott Wave Theory quite closely even used same theory back in December’22 when he determined bottom at $16.5k levels – believes wave three cannot be over yet because if it were shorter than wave one then technically speaking there would not be any room left for further growth potential despite short-term corrections along way.
In conclusion we can say that US Presidential Elections do matter for Bitcoin as they tend to create uncertainty among investors about future economic policies or regulations related cryptocurrency industry.However historical data patterns suggest us that these elections also bring opportunities with them especially during pre/post election cycles where MACD/EMA indicators play vital role signaling buying/selling opportunities depending upon market conditions prevailing at given point-in-time!
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