The Bitcoin (BTC) price crashed shortly after the 2014 and 2018 US midterm elections. While the price action is similar, indicator readings suggest the same will not happen this time.
The 2014 and 2018 U.S. midterm elections were held on Nov. 4 and Nov. 6, respectively (black vertical lines). Interestingly, the crypto market crashed sharply right after the elections were done.
The 2022 midterm election night will be on Nov. 8 (white) line. They will be held under President Joe Biden.
Here we look at the similarities and differences between Bitcoin (BTC) and total crypto market capitalization (TOTALCAP) price movement between the previous and current elections.
Bitcoin Price Action Shows Similarities
The main similarity when looking at the Bitcoin price movement is the time from the all-time high until the elections. More specifically, there were 350 days after the 2014 and 336 days after the 2018 elections.
In both 2014 and…
