Bitcoin may reach a new record high in the days leading up to the Donald Trump-Kamala Harris faceoff in November, onchain and technical signals show.
Bitcoin (BTC) may have reached a local bottom during the global market rout on Aug. 5, when its price dipped to a six-month low of approximately $49,500.
This potential bottom aligns with historical patterns observed in previous US election years, where Bitcoin has consistently found its local low in the third quarter, typically around July or August.
Technical analyst SuperBro highlighted that Bitcoin’s third-quarter bottoms in 2012, 2016, and 2020 followed strong upward momentum, often leading to price rallies to new record highs after the US presidential elections.
