Bitcoin (BTC) 
$68,545 price At the time of writing, it dropped to $67,432 and fell to the lowest level of the last 24 hours. This negativity in cryptocurrencies, hours before the election results are announced, is not surprising. Harris still seems ahead in the polls, and investors who want to reduce their risk are rightfully selling. Volatility is strong.
Bitcoin (BTC)
Rising up to $69,500 Bitcoin (BTC) price started to run in the opposite direction again with the opening of the US markets. This is not surprising and was something cryptocurrency investors expected to reduce risk. But a surprise like Trump’s victory could quickly turn things around. In this case, BTC will rush to new record levels.
Many experts recommend a cautious approach to leveraged transactions for 72 hours. Cryptocurrency analyst Jelle says that based on historical data, there should not be that much panic.
“We are in election week.
Historically, this means that the best part of the Bitcoin cycle is about to begin.”
The second analyst, Titan of Crypto, also recalled historical data. The analyst, who marked the previous US elections on the chart, wrote:
“Bitcoin US Election Rally Is Approaching.
For many, a party needs to be elected for BTC and Crypto to react positively. I don’t think so.
Historically, crypto and Bitcoin have risen regardless of whether Democrats or Republicans have been in office.”
Will the same thing happen again? Time will tell, and those who trade based on historical data will make obvious profits if their trust is rewarded. Moreover, there is also the Fed’s interest rate decision this week. If Powell signals further and faster cuts to neutral interest rates along with a 25bp cut, this could open the door to significant gains.
NEXO Coin Review
Crypto Tony is in the middle of all this chaos NEXO Coin published the base target for. He wrote that at the level he marked in the chart below, the price would confirm the bottom for the last time and rise and could exceed $2. Time will tell whether the analyst’s prediction will come true. Investors should also remain cautious about high volatility in both directions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
