Cryptocurrency analyst Aditya Siddhartha has linked one of the most significant Bitcoin (BTC) price increases in 2012 to the US presidential election.
Siddhartha, a renowned analyst, noted that Bitcoin experienced a significant 52% drop in price before the bullish trend in 2012. However, following bullish MACD crossovers and all major Exponential Moving Average (EMA) crossovers, the market began to gather momentum and started to rise.
In 2012, the MACD and EMA indicators provided positive signals, boosting investor confidence and driving a surge in demand for Bitcoin. This led to a bull market after the presidential election, with Bitcoin’s price increasing by an impressive 11,800%.
Similarly, in 2016, the price of Bitcoin dropped by 41% before the presidential election. After bullish MACD crossovers and all major bullish EMA crossovers, the market gained momentum, resulting in a new uptrend.
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Post-election, Bitcoin’s price surged by 2,800% due to increased investor demand and growing awareness of Bitcoin as a store of value and digital asset potential.
In 2020, Bitcoin dropped by 22% before the presidential election, mainly due to uncertainty surrounding the election results and their potential economic impacts. However, post-election, Bitcoin’s price surged by 410%.
Following the upcoming elections scheduled for this year, analysts predict that bullish MACD crossovers and all major EMA crossovers will once again signal positive market trends, boosting investor confidence and demand for Bitcoin. It is expected that post-election, Bitcoin’s price could rise to the range of $180,000 to $200,000.
