Midterm Election Blues: Bitcoin's Historically Weak Q4 Performance

Bitcoin's history suggests it may fall after the November midterm elections, based on a pattern that has held since 2010. According to cryptocurrency analyst Ali Martinez, Bitcoin plummeted by 72%, 65%, 52%, and 27% following the 2010, 2014, 2018, and 2022 elections, respectively.

The fourth-quarter data also shows a mixed story: while Bitcoin gained 391% in Q4 2010, it posted losses of 16.70% in Q4 2014, 42.16% in Q4 2018, and 14.75% in Q4 2022.

Martinez argues that investors should watch for weakness after the midterms and buy near Bitcoin's short-term holder cost basis around $73,000, a level that has historically held through major corrections during confirmed bull markets.