US Midterm Elections and the Bitcoin Halving Cycle: Coincidence, Not Causation
Yesterday, Bitcoin staged a fake breakout above its 30-day moving average (around $83.5k), and today it dove straight back down to the vicinity of its 50-day moving average (around $81.8k). While browsing online, I came across a chart plotting US midterm elections against Bitcoin’s price history [1]. The chart lays out BTC’s price curve, marks the midterm election years, and points an arrow at the election month each time: November 2014, November 2018, November 2022. Nearly all of them land near the bottom of a cycle. This year’s election falls on November 3 [1]. ...