Is Bitcoin About to Rally Before the Elections? Analysts Predict

News Guru October 21, 2024

Is Bitcoin About to Rally Before the Elections? Analysts Predict

Is Bitcoin poised for a surge ahead of the elections? Analysts speculate…

Reporter

BTC’s momentum has shifted to a bullish stance for the first time in H2 2024.
Can this uptrend persist and mirror historical patterns before US elections?

The past week saw an impressive and optimistic performance for Bitcoin [BTC], with strong demand in the spot market pushing its price nearly 10% higher, from $62,500 to $69,400.

This recent surge has brought BTC within 7% of its all-time high of $73,700 noted in March.

The analyst Stockmoney Lizards believes that last week’s rally has shifted BTC’s momentum to bullish and aligns with historical trends correlated with US elections.

This indicates that BTC’s trajectory is now bullish for the first time in H2 2024.

“Momentum is shifting towards bullish.”

Source: X (): For clarification: The SMI serves as a momentum index reflecting BTC’s price against a recent average. It shows whether prices are oversold or overbought../

.<br> <span>The current reading on the 2-week chart reflects an ascent above the neutral level of 50, indicating that a <a class="glossaryLink cmtt_Cryptocurrency" aria-describedby="tt" data-cmtooltip="<div class=glossaryItemTitle>Bullish</div><div class=glossaryItemBody>Term used to denote that the market is heading up/positive price movement.<div class=mw-wikipedia-container><div class=glossary_mw_wikipedia>Bullish (Wikipedia)</div>&lt;p&gt;&lt;b&gt;Market sentiment&lt;/b&gt;, also known as &lt;b&gt;investor attention&lt;/b&gt;, is the general prevailing attitude of &lt;a href=&quot;http://en.wikipedia.org/wiki/Investor&quot; title=&quot;Investor&quot;&gt;investors&lt;/a&gt; as to anticipated &lt;a href=&quot;http://en.wikipedia.org/wiki/Market_trends&quot; class=&quot;mw-redirect&quot; title=&quot;Market trends&quot;&gt;price development&lt;/a&gt; in a market. This attitude is the accumulation of a variety of &lt;a href=&quot;http://en.wikipedia.org/wiki/Fundamental_analysis&quot; title=&quot;Fundamental analysis&quot;&gt;fundamental&lt;/a&gt; and &lt;a href=&quot;http://en.wikipedia.org/wiki/Technical_analysis&quot; title=&quot;Technical analysis&quot;&gt;technical&lt;/a&gt; factors, including price history, economic reports, seasonal factors, and national and world events. If investors expect upward price movement in the stock market, the sentiment is said to be &lt;i&gt;&lt;b&gt;bullish&lt;/b&gt;&lt;/i&gt;. On the contrary, if the market sentiment is &lt;i&gt;&lt;b&gt;bearish&lt;/b&gt;&lt;/i&gt;, most investors expect downward price movement. Market participants who maintain a static sentiment, regardless of market conditions, are described as &lt;i&gt;permabulls&lt;/i&gt; and &lt;i&gt;permabears&lt;/i&gt; respectively. Market sentiment is usually considered as a &lt;a href=&quot;http://en.wikipedia.org/wiki/Contrarian&quot; title=&quot;Contrarian&quot;&gt;contrarian&lt;/a&gt; indicator: what most people expect is a good thing to bet against. Market sentiment is used because it is believed to be a good predictor of market moves, especially when it is more extreme. Very bearish sentiment is usually followed by the market going up more than normal, and vice versa. A &lt;i&gt;&lt;b&gt;bull market&lt;/b&gt;&lt;/i&gt; refers to a sustained period of either realized or expected price rises, whereas a &lt;i&gt;&lt;b&gt;bear market&lt;/b&gt;&lt;/i&gt; is used to describe when an index or stock has fallen 20% or more from a recent high for a sustained length of time.&lt;/p&gt;<div class=break></div></div></div><div class=cmtt_synonyms_wrapper><div class=cmtt_synonyms_title>Synonyms: </div><div class=cmtt_synonyms>Bull</div></div>" href="https://askfx.com/glossary/bullish/" data-mobile-support="0" data-gt-translate-attributes='[{"attribute":"data-cmtooltip", "format":"html"}]' tabindex="0" role="link">bullish</a> turn could be underway./<xmp>. <p> <br> GuestMobile;<br> TransactionComplete |</p> <p>Regarding this trend bears similarities to what was seen in 2020 just before BTC broke out from its reaccumulation zone. This may point toward an impending breakout.</p> <h2><strong>BTC – Anticipating trends preceding US election outcomes </strong></h2> <div id="" attachment_435126> <p> p ></p> <p id="" caption-attachment-435126> Source : X . p ><br> div >As per analysts’ projections, significant LTC gains might once again correlate with upcoming US primaries. p ></p> <p>“BTC climbed by both 10% and then another +18% during two separate weeks leading into both past elections (2016/2020). If patterns hold through ’24 calendar year – analysts predict BTC hitting new <a class="glossaryLink cmtt_Cryptocurrency" aria-describedby="tt" data-cmtooltip="<div class=glossaryItemTitle>All Time High [ATH]</div><div class=glossaryItemBody>All Time High (ATH) refers to the highest price (or market cap) that an asset has reached since its listing or inception. As the price used to define the &quot;all-time high&quot; is the last done, it just refers to the highest price a trader paid for an asset, regardless of how much he bought of the asset. The all-time high is often quoted in financial assets globally, as it shows the theoretical potential of the asset. That said, there is no guarantee that the asset will trade back at its all-time highs again, and this metric is more often quoted as a vanity metric.<div class=mw-wikipedia-container><div class=glossary_mw_wikipedia>All Time High (Wikipedia)</div>&lt;p&gt;&quot;&lt;b&gt;All Time High&lt;/b&gt;&quot; is a song by American singer-songwriter &lt;a href=&quot;http://en.wikipedia.org/wiki/Rita_Coolidge&quot; title=&quot;Rita Coolidge&quot;&gt;Rita Coolidge&lt;/a&gt; that serves as the &lt;a href=&quot;http://en.wikipedia.org/wiki/Theme_music&quot; title=&quot;Theme music&quot;&gt;theme song&lt;/a&gt; to the &lt;a href=&quot;http://en.wikipedia.org/wiki/James_Bond_(film_series)&quot; class=&quot;mw-redirect&quot; title=&quot;James Bond (film series)&quot;&gt;James Bond film&lt;/a&gt; &lt;i&gt;&lt;a href=&quot;http://en.wikipedia.org/wiki/Octopussy&quot; title=&quot;Octopussy&quot;&gt;Octopussy&lt;/a&gt;&lt;/i&gt; (1983). Written by &lt;a href=&quot;http://en.wikipedia.org/wiki/John_Barry_(composer)&quot; title=&quot;John Barry (composer)&quot;&gt;John Barry&lt;/a&gt; and &lt;a href=&quot;http://en.wikipedia.org/wiki/Tim_Rice&quot; title=&quot;Tim Rice&quot;&gt;Tim Rice&lt;/a&gt; and produced by &lt;a href=&quot;http://en.wikipedia.org/wiki/Stephen_Short_(record_producer)&quot; class=&quot;mw-redirect&quot; title=&quot;Stephen Short (record producer)&quot;&gt;Stephen Short&lt;/a&gt; and &lt;a href=&quot;http://en.wikipedia.org/wiki/Phil_Ramone&quot; title=&quot;Phil Ramone&quot;&gt;Phil Ramone&lt;/a&gt;, the song was released through &lt;a href=&quot;http://en.wikipedia.org/wiki/A%26M_Records&quot; title=&quot;A&amp;amp;M Records&quot;&gt;A&amp;amp;M Records&lt;/a&gt; in 1983. &lt;/p&gt;<div class=break></div></div></div>" href="https://askfx.com/glossary/all-time-high/" data-mobile-support="0" data-gt-translate-attributes='[{"attribute":"data-cmtooltip", "format":"html"}]' tabindex='0' role='link'>ATH</a> benchmarks come pre-election season.”</p> <p><quote text could mean potential new highs big spikes predicted late fall early winter></quote></p> <p>Are <a class="glossaryLink cmtt_Blockchain" aria-describedby="tt" data-cmtooltip="<div class=glossaryItemTitle>On-chain</div><div class=glossaryItemBody>On-chain refers to a cryptocurrency transaction that occurs and recorded on the blockchain.</div>" href="https://askfx.com/glossary/on-chain/" data-mobile-support="0" data-gt-translate-attributes='[{"attribute":"data-cmtooltip", "format":"html"}]' tabindex="0" role="link">on-chain</a> metrics corroborating these predictions?</p> <div id="attachment_435128"> . <p>  <br> | `![Image](https:[//investblockchain.com/)`<br> | `URL` “${7854304284552130})(${197} )optimization”</p> <p>Curly{336634468}{&t}<br> Source(([GLASSNODE]))</p> <p>Since July views of social channel interest around bitcoin remained cautious yet signaled intent beyond. Though activity among daily active addresses rested low during previous reports, whales gradually expanded holdings signals confirming upward pricing motions.!As such engagement steadily accumulates thrill versus retails `${dynamics}` suggesting larger stakeholders recognize opportunities surfacing.</p> <p>.fasterxml redirect=//</p> <p> ${45}&}</p> <p> |</p> <p>Source : Hyblock </p> <p> . </p> <p> establish credibility & ambition! </p> <p>Seamless oversight generates opportunity – donít underestimate possibilities arising soon!</p> <p> div ><br> div >><br> “`</p> </div></div>

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