Can The Donald Trump Win Drive Bitcoin Price To $170,000 This Cycle?

Quick Summary:

After that election, the Bitcoin price went on to create seven consecutive bullish candlesticks following Trump’s win, setting off a remarkable rally that continued into 2017 and laid the foundation for Bitcoin’s ascent to its then-record highs.  Now, with Bitcoin currently trading around $76,000 in the wake of Trump’s latest victory, Severino speculates whether the cryptocurrency could replicate this historical pattern.

In another technical analysis, Tony highlighted the Bitcoin price action from October 2023 using Elliott Waves.  According to this outlook, Bitcoin is about to start a fifth impulse wave, which is known to be the third and last bullish wave.

Crypto analyst Tony “The Bull” Severino, CMT, recently took to social media platform X to highlight an intriguing historical pattern between Donald Trump’s presidential victories and Bitcoin’s price movements.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Cryptocurrency Bitcoin Donald Trump US Presidential Elections Bitcoin Btc

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-09 @ 23:00:33 (3 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 462 words

Reading Time: 3 minutes read

Sentences: 64 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23484694

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