Bitcoin Price Prediction for US Elections

As October draws to a close, Bitcoin (BTC) has finally found the expected “Uptober” momentum and has seen strong appreciation. This Tuesday (29), the cryptocurrency reached daily highs of US$72,000, breaking the US$70,000 barrier for the first time since March.

According to CoinGecko, the price of BTC rose 4.22% in the last 24 hours, which extended its gains for the month. In October alone, the cryptocurrency registered an appreciation of 12.36% and a positive result of 65.67% since the beginning of 2024.

Still, the world's leading cryptocurrency has yet to recover its March — and all-time — highs above $73,000. But this could happen soon after the US presidential elections, as history shows. And such a move could also benefit an interesting memecoin project: FreeDum Fighters.

History of Bitcoin in the US in an election year

Considering this historical data and the growing uncertainty surrounding the 2024 US election, Bitcoin could begin its big bull rally shortly after the election. This year, the elections are scheduled for November 5th.

By coincidence of launch, US election years coincide with the Bitcoin halving year, which also occurs every four years (on average). This means that the combination of the electoral election with the cut in the issuance of new BTC creates an ideal formula for large appreciation.

During the 2012 election, no major price changes linked to the election occurred in Bitcoin, but this is because the asset was still not very relevant. But since 2016, the situation has changed a lot.

In that year's election, BTC rose 3.8% after Trump's victory, who was not the favorite candidate to win. But in 2020, the price rose sharply by 46% shortly after current President Joe Biden's victory.

The price of BTC increased drastically after Election Day due to global economic instability as it was a pandemic year. In 2024, Trump will contest the election again and has a platform very favorable to Bitcoin, even promising to make the market more flexible.

Post-election Bitcoin predictions

Ben Sporn, CEO of Joy Wallet, provided an extremely optimistic assessment of Bitcoin's performance in the near future. According to Sporn, the April halving “is still driving market optimism”, even if the price impacts have not manifested themselves before.

Additionally, both Donald Trump and Kamala Harris have signaled that their administrations would be receptive to cryptocurrencies. In the case of the vice president, support is still seen with reservations given that she participates in the Biden government, marked by imposing several restrictions on cryptocurrencies.

Finally, the CEO of Joy Wallet estimated that the halving, election and “potential breakout” could be enough to take BTC to $80,000, provided it crosses key resistances around November 5th.

And beyond Bitcoin, FreeDum Fighters (DUM), a new PolitiFi token focused on the American presidential election, is attracting attention. The project pits two satirical characters against each other:

• MAGATRON, a reference to the Make America Great Again (MAGA) movement created by Trump since his presidential victory in 2016;
• Kamacop 9000, a fun version of Kamala Harris, current vice president and Trump's opponent in this year's election.

Therefore, FreeDum Fighters brings the same rivalry that permeates the American election to memecoins. But here you can earn tokens by betting on your favorite candidate, using a profitable staking system.

You just need to purchase the project token (DUM) and start rewards by supporting your preferred candidate. As the pre-sale started a few days ago, this is the best chance to buy your DUM at a very low price. Visit the official FreeDum Fighters website and find out more.