BTC Price Prediction: Will It Rise After Holding Above $56K?
CryptoNewsTerminal Staff31 Aug, 2024
BTC Price Prediction: Will It Rise After Holding Above $56K?
The popular crypto analyst Matthew Hyland believes that Bitcoin (BTC) needs to hold above $56,000 to indicate strength. In a video on his YouTube channel, Hyland stated "To confirm strength in Bitcoin we need to see a higher high, which is basically above $57,700, if not, at least a higher low above $56,000. Failure to do so will see further downside." He also noted that Bitcoin typically experiences sideways movement in September, which is its historically worst-performing month. However, he predicts that November, when the U.S. midterm elections occur, will be different for Bitcoin.
