If bitcoin follows the pattern of previous US election years, the recent lack of momentum could reverse dramatically, according to Matthew Hyland, a cryptocurrency analyst. "Think back to August 2012, when there was a massive crash in the stock market," explains Matthew Hyland. "Then the stock market slowly entered the US election cycle, and after the election, the stock market began to rise sharply. Expect Bitcoin to do the same. There will be some volatility, but it will not be too crazy. The price of bitcoin may remain in the current range for a while, and then it may come out of this range in October and November."
However, Markus Thielen, head of research at 10x Research, suggested that bitcoin holders should wait and see until the asset price falls below $40,000 in order to get the best entry price before the next bull market.
Analyst: If Bitcoin follows the pattern of previous US election years, it may break through in a month or two
2024-08-17 08:44:16
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