Today is November 4, 2026. The bearish news surrounding the midterm elections is now behind us, and Bitcoin has rebounded after a sharp wick down to 75,600. As I write this, it’s at 77,400. Looking at the daily chart, you can see that Bitcoin has started to form a morning doji star. It has just tested the 50-day weekly MA, and support held. Here’s my take on why the rebound has been so fast. In these midterm elections, some traditional Republican strongholds in the Rust Belt turned blue. States that had been red for over 30 years, such as Texas, turned blue this time. You can see just how unhappy people are with Trump. His promise to bring manufacturing back and make America great again has become a pipe dream because of high oil prices—and oil prices are high because he launched a war against Iran. Trump thought he could pull off a quick operation in Iran, just as he did in Venezuela. But, like Putin, he failed to make it a quick win and got bogged down instead. Trump is now afraid not only of being held accountable by the Democrats, but also of facing a reckoning within his own party. Before the war against Iran began, there was considerable opposition to it within the Republican Party. Now that he can’t quickly defeat Iran, the Strait of Hormuz has Trump by the throat. He may never admit defeat, and keeps claiming he’s winning while negotiating and making threats, but the fact is that Iran won’t give in to either pressure or persuasion. With the prospect of a reckoning from both parties looming, Trump has now entered a political lame-duck period. It will be hard for him to make any big moves over the next two years. That’s actually good news for us—it’s as if the biggest bearish catalyst on Earth has finally passed. In fact, both U.S. stocks and Bitcoin have tended to perform best in the two years after the midterms. Just look at 2023 and 2024: Bitcoin rose from 18,000 in 2023 to 100,000 in 2024. You could say that most of Bitcoin’s gains came in the two years after the midterms. In the U.S., a newly elected president can get the most done in their first two years; after the midterms, there’s not much they can accomplish. Political stability tends to boost markets because there are fewer uncertainties, and markets hate uncertainty. Here’s my bold prediction: Bitcoin will reach 93,000 before Christmas. Let’s get ready for a wild bull market.