Add as a preferred source on GoogleBitcoin Analysis Identifies $76,000 to $76,600 Support Before Midterms
An Oct. 29 survey put the median year-end forecast at $76,450 under Democratic control of Congress and $90,800 under Republican control.
A Nov. 2 market analysis identified $76,000 to $76,600 as support for Bitcoin (BTC) ahead of the U.S. midterm elections, with resistance at $79,500 to $80,500 framing the near-term range.
Support is a price area watched on declines; resistance is an area watched on advances. The analysis identified two lower reference points if BTC drops below support: the 50-week moving average near $75,700 and the 200-day moving average near $73,100.
An Oct. 29 survey gave a median year-end Bitcoin forecast of $76,450 if Democrats won both chambers of Congress. The median was $84,100 if the parties split control and $90,800 if Republicans retained both chambers.
Those figures are forecasts under different election outcomes, not observed Bitcoin prices. The same survey found that 72% of respondents were bullish on Bitcoin under a Republican-controlled Congress, while 29% expected it to finish the year above $100,000 in that scenario.
The U.S. midterm vote is scheduled for Nov. 3.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.