🚨 The United States votes tomorrow, and in the last two midterm elections, Bitcoin fell by as much as 36% that same month 👀
This week, U.S. politics is making its way into your portfolio, so it’s a good idea to have a plan.
🗳️ Bitcoin closed yesterday, Sunday, near 78,200 and is trading at 77,800 today. On Tuesday, we’ll find out who controls Congress, which decides crypto laws. In November 2018, it fell 36%, and in 2022, it fell 16%. It’s not a rule, but the pattern is there.
📉 The big players are already hedging: the most-traded Bitcoin options bet is protection in case the price drops to 58,000 before November 27. And insurance against sharp moves is more expensive for Wednesday in particular. They’re expecting a brief jolt, not a long storm.
⚖️ The other side of the coin: since 2013, November has been one of the strongest months, with a typical gain of around 8.8%. And this time, there are ETFs that can buy the dip, something that didn’t exist in 2018.
⚡ Zcash is up around 3% at about 1,280, and on Thursday the 5th, it activates its major upgrade: block times will drop from 75 to 25 seconds. ETH is holding at 2,290.
💡 For your wallet: don’t use leverage on election night. If you buy, do it in stages.
Do you think the vote will bring Bitcoin down, or will you use it to buy cheap? 👇
#Bitcoin #BTC #Elecciones #Zcash #ETH