Midterm Elections in the United States, Bitcoin Could Benefit from a Historic Rise

CryptoQuant's analysis suggests that the midterm elections could be favorable for Bitcoin, with increases of 24.5%, 44.9%, and 92.3% observed after the elections of 2014, 2018, and 2022. However, the analyst emphasizes that three observations are not enough to establish a reliable rule. The economic and political context, particularly interest rates and regulation, is also crucial. The yield on 10-year U.S. Treasuries was 5.28% on October 2, and a vote on the CLARITY Act failed in September. Election results do not guarantee an improvement in financial conditions or a reduction in regulatory uncertainty. The analyst from XWIN Finance indicates that it will be necessary to observe the stabilization of yields and the evolution of purchases after the elections to hope for a sustainable rise in Bitcoin. Unlike in 2018, Bitcoin is currently in a bullish trend, which could favor a positive scenario.

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