According to Mars Finance news, QCP Capital published an analysis stating that BTC rebounding to $65,000 may be related to the delay of Mt.Gox repayment deadline to October 2025. While there may be many factors that can explain the current trend, if we look at the historical price movement, this is quite an interesting moment, as it is mid-October and there are only three weeks left until the US election. If we look back to 2016, BTC traded in a very narrow range for over 3 months. It was not until three weeks before the US election day that BTC started to rise from $600 and eventually doubled its price in the first week of January. Similarly, in 2020, BTC was stuck in a boring range for nearly half a year, until it rebounded from $11,000 three weeks before the US election, reaching a high of $42,000 in January.
However, the performance so far in October has been quite disappointing, with BTC only up +1.2% compared to the average of +21%.
