Bitcoin Recovery Challenges Past U.S. Midterm Cycle Pattern
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Bitcoin’s recovery raises the possibility that its bear-market low came months earlier than the timing seen around previous U.S. midterm elections.
Bitcoin’s recovery this year may mark a departure from a historical pattern linking its bear-market lows to U.S. midterm elections, according to CoinDesk.
In earlier cycles, bitcoin reached its bear-market trough after the midterms. That history provides a reference point for assessing the timing of the latest downturn.
The recent rebound raises the possibility that the low occurred months earlier this time. It does not, however, establish that the bottom is already in place.
Source: CoinDesk