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Bitcoin (BTC) 
$107,875 price dropped to $67,432 as the article was prepared, marking its lowest level in 24 hours. The negative trend in cryptocurrencies is not surprising, given the imminent election results. Harris is still leading in polls, prompting market participants to sell in a bid to mitigate risk. The volatility in the market remains strong.
Bitcoin (BTC) Trends
Bitcoin (BTC) price, which had risen to $69,500, started to decline again with the opening of the U.S. markets. This situation was expected, and market participants were likely to minimize their risks. However, a surprising victory for Trump could quickly reverse the situation, potentially pushing BTC to new record levels.
Many experts suggest a cautious approach to leveraged trading over the next 72 hours. Crypto analyst Jelle advises that there is no need to panic based on historical data.
“We are in election week. Historically, this suggests that the best part of the Bitcoin cycle is about to begin.”
Analyst Titan of Crypto also reminded followers of historical data. Referring to previous U.S. elections, he noted that BTC tends to respond positively regardless of which party wins.
“The Bitcoin U.S. Election Rally is Approaching. Many believe that BTC’s positive response depends on a party’s election, but I disagree. Historically, Bitcoin has risen regardless of party affiliation.”
Will history repeat itself? Time will tell, and those trading based on historical data may find success if their confidence pays off. Additionally, this week also includes the Fed’s interest rate decision, which could significantly impact market movements.
NEXO Coin Insights
Amidst this chaos, Crypto Tony has set a bottom target for NEXO Coin. He noted that the price would confirm the bottom and rise past $2 at the indicated level in the chart. Whether the analyst’s prediction will materialize remains to be seen, and investors should remain vigilant regarding high volatility in either direction.
