Cryptocurrencies Historical Data
Cryptocurrencies Prediction
The Bitcoin chart is quite boring and August has not given investors what they expected. So what happens now? Popular cryptocurrency analyst Hyland shared his expectations for the route in a few months, comparing the current situation with previous cycles. BTC is still stalled around $ 59,200 and has not reached the safe zone for the rise.
Cryptocurrencies Historical Data
Analyst Matthew Hyland mentioned in his latest market assessment that similar periods have occurred before. The analyst believes that the price falling below $ 50,000 in early August and the recent long period of consolidation are not surprising. Cryptocurrency went through similar processes in the 2012, 2016 and 2020 election periods.
“I’ll go back to August 2012, that’s where we had a big crash. Then we slowly moved towards the election and then we went up significantly after the election. That’s the kind of path I expect. A little bit choppy, nothing too crazy, then probably October, November, we’ll come out of this range.”
According to him, August will continue to be boring. The analyst, who argues that the demoralizing days will continue for a little longer, is in line with the September interest rate cuts.
Cryptocurrencies Prediction
The Bitcoin price has fallen by about 10 percent since July 18. The extent of the loss in altcoins is much greater. There are those who expect deeper bottoms from different analysts. It is even possible to see those who expect a decline for September, contrary to the general opinion of the market. For example, crypto analyst Rager said the following in his latest market assessment;
“I personally think the Bitcoin price will be lower than its current price before the end of September.”
In the short term, he expects to see some recovery by the end of the month. Michael Poppe updates the worst-case scenario and argues that if $56,000 is lost, there could be a new test of $48,000 with a Black Monday story.
Markus, Head of Research at 10x Research, also says that for the best entry, investors should wait for the day when BTC drops to $40,000. He wrote exactly this in his report published earlier this month.
“We are targeting Bitcoin prices to fall into the low 40s to ideally time the next bull market entry.”
Of course, none of them have the ability to see the future, and cryptocurrencies are full of surprises.
