Cryptocurrency trader Killa, closely followed in the market, suggested that Bitcoin (BTC) price could bottom out before the US midterm elections. Analyzing price movements in past election periods, the analyst stated that two different scenarios could unfold for Bitcoin after the November 3rd elections, urging users to be cautious about potential price increases.
Killa, who has over 200,000 followers on the social media platform X, drew attention to the relationship between the US midterm elections and Bitcoin’s past lows in his latest video.
According to the analyst’s data, Bitcoin reached its lowest point approximately 70 days after the 2014 midterm elections and 40-44 days after the 2018 elections. In 2022, the period when Bitcoin bottomed out coincided almost exactly with the midterm elections.
Based on this historical trend, Killa argued that Bitcoin could form a significant bottom on the weekly chart before the US midterm elections on November 3, 2026.
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Two Critical Scenarios for Bitcoin: $95,000 on the Agenda!
Killa stated that two different scenarios stand out depending on how the Bitcoin price moves in the coming weeks.
According to the first scenario, Bitcoin could form its bottom before or close to the elections. During this period, there could be a brief dip below current lows, but the price could also hold above $80,000.
According to the analyst, following such a development, Bitcoin could begin to recover, first testing the $80,000 region, and then extending its rise to $95,000.
The analyst believes that if this scenario materializes, the market could experience a strong rally in the final quarter, contrary to general market expectations.
In the second scenario, Bitcoin could experience a strong surge before or immediately after the election, reaching the $94,000-$95,000 region, followed by intense selling pressure.
According to Killa, the post-election risk-reduction trend seen in three out of the past four election cycles forms the basis of this scenario. In such a case, the initial upward movement might signal a larger correction rather than a sustained recovery.
Killa added that users shouldn’t assume a decline is inevitable after elections based solely on historical data.
According to the analyst, Bitcoin forming a bottom and starting to recover before the elections could strengthen bullish expectations, but a rapid rise followed by price weakening during the election period could signal increased risks.
Therefore, Killa stated that the price structure that will emerge in the coming weeks should be closely monitored, and cautioned that directly applying past cycles’ behavior to the current market could be misleading.
*This is not investment advice.
Continue Reading: Mark Your Calendars for November 3: Analyst Claims Bitcoin Price Could Reach $95,000