November 2024 is one of the most critical points of the year.
Because the U.S. election is about to conclude.
Also, there is clarity on the second interest rate cut.
Another point is that there are only 61 days left until 2025.
Regardless of who wins the U.S. election, it is actually beneficial for the cryptocurrency market.
What impact do the four U.S. elections have on the cryptocurrency market?
Three months before the 2024 U.S. election, Bitcoin's price plummeted on August 5th to $49,000; however, on October 7th, it began a new round of price surges.
Three months before the 2016 U.S. election, Bitcoin's price suffered a significant decline, falling from $750 to a low of $500, with a drop of over 30%. It then bottomed out and started a major bull market.
Two months before the 2020 election, Bitcoin's price drastically fell by about 16%, dropping from $12,000 to around $10,000, followed by a prolonged period of consolidation. After rebounding at key points before the election, the price soared to nearly $60,000 by May 2021.
In the 2012 U.S. election, 80 days before the election, Bitcoin experienced a brutal collapse of up to 75%. However, after the election, it entered a phase of wild price increases.
Which altcoins are expected to soar 20-50 times after the election?
- $ORDI
The price of ORDI continues to rise, with the latest trading price at $33.89, an increase of 1.4% from the previous trading day, and a market cap of approximately $682 million. Its trading volume to market cap ratio is 7.83%, indicating stable market interest. Compared to the long-term SMA line, ORDI shows a strong upward trend, with an expected price growth to around $105.09 in the coming months, especially by November.
- $GIGA
Although GIGA did not experience the dramatic rise seen in other meme coins, it did achieve a stable growth of 18.6%.
This persistent upward trend is worth noting, especially considering the stability of this cryptocurrency in recent weeks.
In the past month, GIGA has maintained an upward momentum, and this week's 3.9% increase further solidified this trend, successfully reaching a new historical high of $0.0686.
- $TIA
Celestia is a modular blockchain network that allows users to easily create their own blockchains, reducing the complexity of traditional blockchains by separating data storage, consensus, and execution processes. Recently, Celestia unlocked TIA tokens worth approximately $890 million, causing the price to drop about 20% over the past week, currently 77% lower than its historical peak. However, there have been 17 days of positive performance in the last 30 days, indicating market activity. The 24-hour trading volume to market cap ratio for TIA is 0.9333, suggesting good liquidity.
According to Coincodex's forecast, TIA may rise by 225.98% within the next month, potentially reaching a price of $15.72.
- $DOGE
DOGE, as the pioneer of meme coins, is considered the only meme coin that uses POW; its founder has long sold off holdings, achieving true decentralization. On August 20, Musk expressed interest on Twitter in creating a 'Department of Political Efficiency' named D.O.G.E, a name proposed by the DOGE community. Subsequently, Trump responded that if elected, he would establish this department aimed at conducting comprehensive financial audits and reducing government waste.
Therefore, the price trend of DOGE has become associated with the U.S. presidential election.
One person is lonely; retail investors need to band together. The bull market has arrived, and everyone is welcome to join, moving forward hand in hand, making the most of this bull market and embracing the uncertain future with certainty.
