Matrixport: The U.S. presidential election year is usually favorable for stocks and Bitcoin

2024-07-05 18:37:50

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ChainCatcher news, according to Matrixport, the U.S. presidential election year is usually favorable for stocks and Bitcoin. Last year, we showcased Bitcoin's performance during the U.S. elections in 2012, 2016, and 2020. By July of this year, Bitcoin has risen 39% year-to-date, and although an average return of 192% for the year seems difficult to achieve, Bitcoin is following the election year pattern. The year-to-date return rates for Ethereum and Bitcoin are 49% and 43%, respectively, far exceeding the Nasdaq (22%) and S&P 500 (16%). Despite the favorable political and macroeconomic factors, traders may choose high-interest tokens and wait for better re-entry opportunities. The Federal Reserve may indicate its intention to begin a rate-cutting cycle at the meeting on July 31.

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