Bitcoin On The Evening Of The Election—Here's How It Performed In 2012, 2016 And 2020

Alex Fazel, Chief Partnership Officer at Swissborg, sees Bitcoin BTC/USD well-positioned, regardless of the outcome of this week’s presidential election.

What Happened: Fazel highlighted on X on Monday that a Trump win might give crypto a stronger boost but even with a Harris win, the sector would likely perform well, though with slower growth.

Looking at the historical performance of Bitcoin after elections, the analyst found a 2,320% year-on-year return for Bitcoin following Obama's 2012 victory, a 950% increase after Trump's 2016 win, and a 370% rise after Biden's 2020 triumph.

Also Read: $61,000 Is Bitcoin’ Line In The Sand For ETF Demand To Remain Steady, Says Analyst

On-chain analytics firm Santiment shows Bitcoin whale activity declining over the past week, signaling that major holders are waiting to see how the broader market reacts to election results.

While this does not immediately signal bearish price action to follow, cautious whale traders may be waiting for smaller market participants to react to a catalyst like the election.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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