According to Lookonchain, Bitcoin ($BTC) typically experiences price increases both before and after U.S. presidential elections. This pattern aligns with market anticipation of potential policy changes and economic shifts with new administrations, often driving demand for Bitcoin as a hedge against economic uncertainty.
10.99% Bitcoin Price Increase Since October 2024
Starting from October 5, 2024, Bitcoin has seen a notable 10.99% rise in price, supporting historical data that links elections to heightened Bitcoin demand. The increase highlights investor interest in Bitcoin as the 2024 election approaches, potentially due to its role as a digital asset uncorrelated with traditional markets.
Market Factors Driving Bitcoin Demand During Elections
The price trend may reflect Bitcoin's appeal in times of economic or policy transition, as investors turn to digital assets to hedge against potential volatility in traditional markets. Election cycles often lead to speculation on policy impacts, contributing to higher demand for decentralized assets like Bitcoin.
