๐ Bitcoin Price Analysis amid Election Year Parallels:- Current Price: Bitcoin trading at $59,089 (down 9.78% since July 18).
๐ Election Year Pattern: Bitcoinโs current pattern mirrors the ones seen in previous U.S. election years (2012, 2016, 2020).
๐ Analyst Predictions:
Matthew Hyland expects a choppy August, with potential breakout around October-November.
Rager anticipates further downside below current levels before a short-term recovery in late August.
Michael van de Poppe warns of a critical support level at $56K; losing this may lead to new lows or a retest at $48K.
Markus Thielen advises waiting for Bitcoin to drop into the low $40,000s for an ideal bull market entry.
๐๏ธ 2024 US Presidential Election: Scheduled for Nov. 5, with potential significant impacts on Bitcoin price movement.
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