Elon Musk

Brown

Bitcoin

Kevin

As Americans head to the polls for <a href="https://www.thestreet.com/crypto/markets/bitcoin-crash-alert-bitcoins-next-crash-could-be-weeks-away-as-midterm-fears-return" rel="noopener noreferrer nofollow">the midterms</a>, Bitcoin investors who bought during the last one have plenty to cheer.
Bitcoin has seen a major correction around each of the last four <a href="https://www.thestreet.com/crypto/markets/bitcoin-at-risk-after-us-midterms-analyst-flags-a-73000-dip" rel="noopener noreferrer nofollow">midterm elections</a>, and the next one falls on Nov 3.
According to a <a href="https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-loses-ground-ahead-of-crucial-us-midterm-elections-and-cpi-inflation-release-202211081444" rel="noopener noreferrer nofollow">report</a>, Bitcoin slid about 5% to $19,725 on Nov. 8 2022, the day of the last midterm elections, as FTX’s liquidity crisis unfolded.
A $1000 investment that day would have bought about 0.0507 BTC. At $76,786, Bitcoin’s price on <a href="https://www.thestreet.com/crypto/markets/halloween-brings-another-test-on-bitcoins-18th-birthday" rel="noopener noreferrer nofollow">Oct. 31</a>, that stake would now be worth about $3,893, a gain of roughly 289%.
Under former President Joe Biden, Washington took a far more cautious line on crypto heading into the 2022 midterms.&nbsp;
<a href="https://www.thestreet.com/crypto/markets/elon-musk-has-a-bold-answer-to-americas-40-trillion-debt-crisis" rel="noopener noreferrer nofollow">Related: Elon Musk has a bold answer to America’s $40 trillion debt crisis</a>
In March 2022, Biden signed an executive order directing federal agencies to study the risks and benefits of digital assets and to explore a possible U.S. central bank digital currency, <a href="https://www.mayerbrown.com/ja/insights/publications/2022/03/biden-executive-order-calls-for-regulatory-proposals-on-digital-assets-and-central-bank-digital-currency" rel="noopener noreferrer nofollow">Mayer Brown noted</a>.&nbsp;
<h2 id="trump-s-crypto-push-lifted-the-ceiling">Trump’s crypto push lifted the ceiling</h2>
President Donald Trump’s return to the White House brought a friendlier stance on crypto.
Trump signed an <a href="https://www.whitehouse.gov/fact-sheets/2025/03/fact-sheet-president-donald-j-trump-establishes-the-strategic-bitcoin-reserve-and-u-s-digital-asset-stockpile/" rel="noopener noreferrer nofollow">executive order</a> in March 2025 directing the government to hold seized Bitcoin rather than sell it. The U.S. now holds about 200,000 BTC, according to Sen. Bill Hagerty.
Bitcoin went on to hit a record $126,080 on Oct. 6, 2025. At that peak, the same $1,000 would have been worth about $6,392.
The ride has been bumpy since. Bitcoin was down roughly 39% from that high and lost 8.23% in October. <a href="https://www.coinglass.com/today" rel="noopener noreferrer nofollow">CoinGlass</a> data suggested it was on track for its worst October in 12 years.
<h2 id="what-the-midterms-mean-for-bitcoin">What the midterms mean for Bitcoin</h2>
The stakes this time run through Washington’s biggest crypto bill.
“If the House shifts and we get gridlock, the CLARITY Act may be harder to pass,” Shark Tank star <a href="https://www.thestreet.com/crypto/markets/kevin-oleary-warns-midterms-could-derail-cryptos-biggest-washington-bill" rel="noopener noreferrer nofollow">Kevin O’Leary</a> said.
He isn’t betting on a quick price pop either way. “Even if the legislation passes, I’m not convinced it automatically sends Bitcoin higher,” O’Leary said.
According to analyst <a href="https://www.thestreet.com/crypto/markets/bitcoin-at-risk-after-us-midterms-analyst-flags-a-73000-dip" rel="noopener noreferrer nofollow">Ali Charts,</a> Bitcoin could face a sharp pullback after the U.S. midterm elections on Nov. 3.
The analyst laid out a pattern of post-midterm declines going back to 2010 and named $73,000 as the level to watch<a href="https://www.thestreet.com/crypto/markets/rich-dad-poor-dad-author-warns-crash-could-leave-boomers-homeless-backs-gold-silver-bitcoin-again" rel="noopener noreferrer nofollow"> if history repeats.</a>
The analyst pointed to Bitcoin's performance following the 2010, 2014, 2018 and 2022 midterms, when the token fell 72%, 65%, 52% and 27%, respectively.
He was careful to note that the elections did not necessarily cause the drops, but called the pattern worth watching as<a href="https://www.thestreet.com/crypto/markets/elon-musk-crypto-just-placed-huge-midterm-bets-and-traders-should-pay-attention" rel="noopener noreferrer nofollow"> Nov. 3 approaches</a>.
<h2 id="the-roundtable-100">The Roundtable 100</h2>
If you follow our market coverage, don’t miss the <a href="https://roundtable100.com/tab/rankings" rel="noopener noreferrer nofollow">Roundtable 100</a>. Updated every Friday, it's a power ranking of the 100 most investable tech stocks, including digital assets. Check out the latest <a href="https://roundtable100.com/" rel="noopener noreferrer nofollow">RTB 100</a> rankings at <a rel="noopener noreferrer nofollow">roundtable100.com</a>.
<a href="https://www.thestreet.com/crypto/markets/bitcoins-350000-price-target-comes-with-a-terrifying-warning-analyst-says" rel="noopener noreferrer nofollow">Related: Bitcoin's $350,000 price target comes with a terrifying warning, analyst says</a>

If you invested $1,000 in Bitcoin last midterm, here’s what it’s worth under Trump

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