Cryptocurrency analyst Matthew Hyland said that if Bitcoin follows the pattern of previous U.S. election years, the recent lack of momentum could reverse significantly.
Matthew Hyland explained: “Think back to August 2012 when we had a massive stock market crash.
Then the stock market slowly entered the US election cycle, and only after the election did the stock market begin to rise sharply. It is expected that Bitcoin will also show this trend, with some fluctuations, but not too crazy. The price of Bitcoin may remain in the current range for a while, and then may move out of this range in October or November. "
However, Markus Thielen, head of research at 10x Research, suggested that Bitcoin holders should wait until the asset price drops below $40,000 to get the best entry price before the next bull run arrives.
