Matrixport: The US election may lead to a continued bullish trend in cryptocurrencies, and Bitcoin will set record-breaking returns

TechFlow news, Matrixport released a new report pointing out that the current bull market of Bitcoin has set a record of positive returns for seven consecutive months for the second time in history, which was only achieved in September 2012. Although Bitcoin fell by 10% in October 2012, it rose for six consecutive months and rose nearly tenfold between November 2012 and April 2013.

In addition, Matrixport emphasized that Bitcoin performed well during the US election year, with an average increase of 192%. Given the lack of hawkish assertions at last week’s Fed meeting, the U.S. presidential election may continue the bullish trend in risk assets (stocks + cryptocurrencies).

Bitcoin is expected to post positive returns in March, April tends to be strong with an average return of +12% over the past decade, and summer price action tends to be upward. Therefore, one can expect record-breaking returns from Bitcoin.