Popular Crypto Analyst: If History Repeats, Bitcoin (BTC) Will Rise Sharply!
Bitcoin (BTC) may trade between $55,000 and $70,000 until October.
According to popular crypto analyst Matthew Hyland, the price chart of the leading cryptocurrency Bitcoin (BTC) is forming formations seen in previous election years in the US. Hyland thinks that BTC could soon reverse its loss of momentum significantly.
The successful analyst believes that the recent widening consolidation and subsequent decline (Bitcoin falling below $50,000 in early August) are almost identical to the pre-US presidential elections in 2012, 2016 and 2020.
“I will go back to August 2012, there was a big crash right there (just like the recent declines). Then we slowly moved towards the election and had a big rise after the election.
“I expect this kind of path in Bitcoin (BTC) again. A little choppy, nothing too crazy. Then we will probably break out of this range in October and November and start our sharp increases.”
Hyland, who thinks that the leading cryptocurrency Bitcoin (BTC) will move between $55,000 and $70,000 in the coming period, believes that the expected increases will occur with the break of this range.
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