TechFlow news, on August 28, according to The Block, Bitfinex analysts pointed out that in the past three U.S. presidential elections, Bitcoin prices saw significant declines approximately 2-3 months before each election. Specifically: two months before the 2020 election, Bitcoin dropped by 16%; three months before the 2016 election, it fell by 30%; and 80 days before the 2012 election, it plunged by 75%.
The analysts believe this pattern may be influenced by seasonality, market timing, uncertainty, and correlation with traditional markets. However, historical data also shows that Bitcoin tends to rebound strongly in the months following the elections—rising about 320% within 160 days after the 2020 election and surging over 2,000% within 400 days after the 2016 election.
Currently, Bitcoin is priced at $59,778, down more than 4% in the past 24 hours. Analysts note that while a pre-election dip pattern exists, Bitcoin has historically delivered strong post-election rebounds.
