According to Konstantin Anissimov, Executive Director of CEX.IO, there may be a possible increase in market volatility after the US Presidential election. According to Konstantin Anissimov, if Bitcoin (BTC) falls due to a correction in the financial markets, it could recover quickly. According to the famous manager, Bitcoin has shown in the past to be a durable cryptocurrency in election times.
“If Bitcoin falls due to a correction in the financial markets, it could recover quickly!”
Konstantin Anissimov, Executive Director of CEX.IO, explained that it may be possible to see increased volatility in the leading cryptocurrency. Popular analysts argue that if the Democratic party wins in these elections, it could negatively impact all financial markets, which could have a negative impact on Bitcoin and cryptocurrencies, as in previous crashes. However, Konstantin Anissimov continues its rise towards the market.
Over 4 Estimates are Correct! Famous Analyst Shares New Bitcoin Forecast
The famous manager stated that Bitcoin was able to recover quickly in the previous presidential elections. Konstantin Anissimov used the example of what happened in the 2012 and 2016 elections. In 2012, two weeks before the elections, Bitcoin dropped 20%. After this crash, Bitcoin managed to recover and continue the uptrend it followed before the crash occurred. The same happened in 2016, when Bitcoin fell about 12% five days before the US elections. This collapse has not stopped BTC from recovering in 2017 and continuing towards new peaks.
Konstantin Anissimov: Volatility in the market may increase after the US Presidential elections!
Now analyst Konstantin Anissimov believes that technical and fundamental factors support the bulls, which means we have a good chance of continuing the bull trend that Bitcoin is currently in. About the future presidential elections, Konstantin Anissimov said:
NOW THE MARKET IS STILL EVALUATING THE EFFECT OF BITCOIN’S SUPPLY SHOCK AFTER HALVING, HISTORY CAN REPEAT ITSELF. ON-CHAIN DATA SHOWS THAT BOTH BTC AND ETH FIT ON MASSIVE SUPPLY BARRIERS THAT MAY BE ABLE TO ABSORBE ANY DOWNWAY PRESSURE. THEREFORE, THE METRICS IS CURRENTLY FOR THE BULLS …