Cryptocurrency market analyst Matthew Hyland predicts a significant breakout in the cryptocurrency market, especially Bitcoin, after October, citing trends observed in previous US election years.
Matthew Hyland's Prediction
Matthew Hyland suggests that the cryptocurrency market, especially Bitcoin, could experience a significant breakout after October. He points to similar trends in previous US election years, indicating that the market will likely remain within its current range until October or November, after which a significant upward movement is possible.
Historical Precedents
Hyland cites the 2012 stock market crash as a precedent, 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 stay within its current boundaries until late October or November.
Current Market Situation
Markus Thielen, research director at 10x Research, advises 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.
Experts thus predict a potential breakout in the cryptocurrency market after October, based on historical data and current market conditions. However, individuals should make their financial decisions considering all risks.
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