Bitcoin Price Prediction Hints No Return to Pre-Election Levels

Bitcoin Price

Prediction Hints No Return to Pre-Election Levels

The Bitcoin price surged 8.9% during Wednesdays trading session to trade at $75,341. The U.S. election result fueled the bullish momentum as Donald Trump became the 47th U.S. President. As the BTC entered price discovery mode, the historical trend indicates the asset has never visited the pre-election level, indicating the opportunity to momentum buyers.

According to Coingecko, the global crypto market cap surged to $2.6 Trillion, and 24-hour trading volume holds around $281.5 Billion.

Bitcoin Price Prediction: Pre-Election Levels May Never Be Seen Again

On November 6th, the crypto market witnessed a significant surge in bullish momentum following Donald Trump‘s victory in the U.S. presidential election. The market’s positive response is attributed to Trumps pro-cryptocurrency stance during his campaign and expectations for improved regulation of the digital market.

BTC Recovery May Extend as Whale Accumulation IntensifiesBTC Price Analysis Hints Major Rally Amid Flag Breakout

BTC/USD -1d Chart

Frequently Asked Questions (FAQs)

Historical data shows that Bitcoin has consistently reached new highs following U.S. election cycles and has never reverted to pre-election levels

Whale accumulation plays a significant role in accelerating market recovery and boosting investor sentiment

Bitcoin recently broke out of a bullish continuation pattern known as a “Flag,” formed during an eight-month consolidation phase. This breakout, coupled with a 60% rally over two months, suggests a possible 35% surge, potentially driving BTC to $1,00,000 if the pattern holds.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.