What Bitcoin Election Patterns Could Signal For Its Price Ahead Of January 20 Inauguration

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	212,171,954,973	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

212,171,954,973

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-11.13	-0.63%	1,759.13	1,759.12	1,759.13

Price Change

Price Change %

Current Price

Bid Price

Offer

-11.13

-0.63%

1,759.13

1,759.12

1,759.13

High Price	Low Price	Open Price	Prev. Close	52 Week Range
1,790.97	1,755.52	1,768.57	1,770.26	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

1,790.97

1,755.52

1,768.57

1,770.26

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	03:18:20	0.000068	1,759.06	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

03:18:20

0.000068

1,759.06

USD

Price x Volume	Volume	Base Symbol	Related Pairs
24,327,865.66	13,716.24	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

24,327,865.66

13,716.24

What Bitcoin Election Patterns Could Signal For Its Price Ahead Of January 20 Inauguration

15/01/2025 12:30pm

NEWSBTC

As Bitcoin (BTC) navigates a turbulent period marked by increased volatility and a significant correction in cryptocurrency prices, market analyst Lark Davis has shed light on a potentially promising trend. In a recent post on social media platform X (formerly Twitter), Davis drew parallels between Bitcoin’s current price movements and those observed during the last presidential election cycle, suggesting a potential restoration of confidence in the leading cryptocurrency. Bitcoin Mirrors 2021 Election Cycle Davis highlighted that Bitcoin appears to be mirroring its price action from the previous presidential election and inauguration in 2021. Related Reading: Ethereum Whales Absorb $1 Million Loss As Market Caution Intensifies The expert presented a chart illustrating three distinct phases that Bitcoin underwent during that time, which may be relevant again as the market approaches the upcoming inauguration of President-elect Donald Trump on January 20. The first phase, which Bitcoin already experienced in November and December 2024, saw a notable rally towards new highs culminating in a peak price of $108,000 on December 17. Following this initial surge, Bitcoin entered the second phase characterized by what Davis refers to as a “pre-inauguration dump.” Historically, this period has been marked by market corrections as investors react to uncertainties surrounding political transitions. Currently, Bitcoin seems to be navigating through this phase, with observers closely monitoring its price movements as the inauguration date approaches. Davis anticipates a potential “post-inauguration pump,” reminiscent of the price surge that propelled Bitcoin to an all-time high of $69,000 in 2021. With only days remaining until the inauguration, the market is keenly observing whether this historical pattern will repeat itself in 2025. Market Anticipates Trump’s Inauguration The sentiment around Bitcoin’s future is further buoyed by Trump’s promises to reshape the regulatory environment for cryptocurrencies. Unlike Biden, whose administration has taken a more cautious approach, Trump has signaled a desire to foster growth within the digital asset space, including plans to establish a Bitcoin stockpile aimed at addressing the national debt, which exceeds $36 trillion. While Lark Davis cautions that history may not repeat itself, he notes that it often “rhymes.” The prospect of increased support for Bitcoin from the incoming administration could serve as a catalyst, propelling the cryptocurrency toward new price highs and entering a phase of price discovery. Related Reading: Chainlink Weekly Chart Looks Promising – If Bulls Reclaim $30 ‘ATH Are Next’ In addition to Davis’s insights, fellow crypto analyst Doctor Profit has also weighed in on Bitcoin’s recent performance. He has expressed optimism about the cryptocurrency’s trajectory, indicating that it is aligning with his previous expectations. Profit emphasizes the importance of maintaining a daily close above the $95,900 mark, with a breakout above $97,500 necessary for Bitcoin to continue its upward momentum toward the coveted $100,000 threshold. At the time of writing, BTC trades at $97,000, recording gains of 3% in the 24-hour time frame. Featured image from DALL-E, chart from TradingVew.com

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