Cryptocurrency analyst Matthew Hyland suggests that the cryptocurrency market, especially Bitcoin, could experience a significant breakout after October, mirroring trends observed in previous US election years.
Hyland cites the 2012 stock market crash as a precedent, which was followed by a slow recovery leading up to the election and a sharp post-election market rally. He expects Bitcoin to follow a similar trajectory with some volatility, but ultimately remain within its current range until October or November, when a breakout could occur.
Adding to this perspective, Markus Thielen, research director at 10x Research, told Bitcoin holders to be patient and wait for the optimal entry price before the next bull run.
At the time of writing, the world’s largest cryptocurrency, Bitcoin (BTC), is trading at $59,391, approximately 19% lower than its all-time high of $73,750.
*This is not investment advice.
