Bitcoin bull nears: Eyes on US elections!

Crypto analyst Matthew Hyland suggests Bitcoin could surge ahead of US presidential elections.

Crypto analyst Matthew Hyland has suggested that Bitcoin could rise ahead of the US presidential election.

Stating that there will be no rise in August, Hyland moved expectations a few months later. The crypto analyst thinks that the Bitcoin (BTC) price is moving like in previous election years. According to the analyst, the impact of the US elections could turn things upside down in the market.

Famous crypto analyst Matthew Hyland commented on the course of the cryptocurrency market in a video he published on X. “Nothing crazy will happen in August, but a breakout could occur in a month or two,” said the analyst, pointing to the US elections.

Hyland, who analyzed the US presidential elections in 2012, 2016 and 2020, suggested that the November elections would increase the price of Bitcoin (BTC).

The analyst said that BTC has formed a structure similar to the previous elections.

Hyland said the following on the subject:

“I’ll go back to August 2012, that’s where we had a big crash. Then we slowly moved towards the election and after the election we went up significantly.”

The crypto analyst claimed that the process in question will be a bit painful and that a significant increase will be seen between October and November.

According to data from CoinGecko, the #BTC price has fallen by 9.78 percent since July 18, dropping to $59,000.

Some crypto analysts believe that #BTC will fall further. Crypto analyst Rager said the following on X:

“I personally think that the Bitcoin price will be lower than its current price by the end of September.”

Crypto analyst Michael van de Poppe, who has made a name for himself with his previous analyses, stated that #BTC is trying to hold on to a very important support level and that it could retest the $48,000 region with a possible selling pressure.