Analysis of Bitcoin price trends before and after the US presidential election
According to data analysis, Bitcoin usually falls before the US election and then rebounds after the election. This pattern is mainly affected by the following two key factors:
1. Presidential elections usually take place at the end of the year, which is a more turbulent period in the financial market, and seasonal factors will affect the price trend of Bitcoin. Bitcoin has experienced a significant decline on the eve of the past few elections, followed by a sharp rise after the election.
2. The uncertainty of election results will create a risk-averse environment that affects Bitcoin and traditional financial markets. Bitcoin and the S&P 500 index are increasingly correlated, and both respond to broader economic uncertainties.
On the whole, although Bitcoin's price trend is consistent with the election cycle, it does not represent a direct causal relationship. Other factors such as monetary policy, global economic conditions, technological progress, etc. will also have an important impact on Bitcoin prices. Market participants are paying attention to this recurring pattern before the upcoming 2024 election.
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