Bitcoin Analysis: The Effect of the United States Election on Bitcoin Prices

The Bitcoin market is known for its high volatility. Among the various factors that influence it, general elections (elections) in the United States (US) are often in the spotlight. This article will take an in-depth look at how the US Election may impact the price of Bitcoin, taking into account political, economic and investor factors.

The Influence of the United States Election on Bitcoin

Political Factors

• Policy:  Presidential candidates' political views on cryptocurrencies could have a significant impact on the Bitcoin market. Pro-crypto candidates could drive positive sentiment, while those in favor of strict regulation could pressure prices.
• Political Stability:  Political uncertainty and social unrest around the election period may drive investors to seek safe haven assets such as Bitcoin, increasing volatility and potential price increases.
• Investor Participation:  The US elections could increase investor participation in the Bitcoin market, especially if presidential candidates discuss cryptocurrencies in their campaigns. This can increase trading volume and volatility.

Economic Factors

• Economic Policy:  Economic policies proposed by presidential candidates, such as fiscal or monetary stimulus, could have a significant impact on the Bitcoin market. Stimulus can increase liquidity and push up prices, while fiscal tightening policies can put downward pressure on prices.
• Macroeconomic Conditions:  Global macroeconomic conditions, such as inflation, interest rates, and economic growth, can also be influenced by the US Election and may impact Bitcoin. High inflation and low interest rates can push investors into risky assets like Bitcoin.

Investor Factors

• Investor Perception:  Investor perception of Bitcoin and cryptocurrencies as a whole may be influenced by the US Election. A pro-crypto candidate could increase investor confidence and encourage capital inflow into the market.
• Institutional Participation:  Institutional participation in the Bitcoin market is increasing. If the US Election produces policies that support cryptocurrencies, this could attract more institutional investors and drive market growth.

Historical Data Analysis

Image : Bitcoin price during the US election

• 2012: Bitcoin price at $11 indicated an increase
• 2016:  Donald Trump's victory was accompanied by high volatility in the Bitcoin market. Prices initially fell after the election, but then rose significantly during Trump's term.
• 2020:  Joe Biden's victory was accompanied by an increase in Bitcoin prices. This may be due to the massive economic stimulus proposed by the Biden administration.

Bitcoin Price Prediction for 2024

If we predict how the 2024 US election will affect Bitcoin, we can look at its history, There are several factors that need to be considered, namely:

• Increase in the amount of money in circulation:  The amount of money in circulation always increases every time in the United States, increasing the money supply ahead of the election can increase liquidity and push up the price of Bitcoin. If you look at the graphic image of Bitcoin prices during the election, there will be an increase in Bitcoin prices during the US election for the next year
• Election budget increase:  An increase in the election budget by 100% can increase the money supply and have a positive impact on Bitcoin.
• Historical data:  1 year before and after the election, Bitcoin prices tend to rise.
• Presidential candidates:  The candidates' views on cryptocurrencies will play an important role in determining the direction of the Bitcoin market.
• Economic policies:  Economic policies proposed by presidential candidates could have a significant impact on the Bitcoin market.
• Political stability:  Political uncertainty and social unrest may drive investors to Bitcoin as a safe haven.

Conclusion

The 2024 US election could be a watershed moment for the Bitcoin market. Investors should pay attention to political and economic developments in the United States to understand how they may affect the price of Bitcoin.

How To Buy Crypto from Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Read Also:

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.