“Past Patterns Suggest BTC Surge After US Elections” - Analysis

IconCryptoNewsTerminal Staff16 Aug, 2024

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“Past Patterns Suggest BTC Surge After US Elections” - Analysis

Matthew Hyland, a crypto analyst, suggests that Bitcoin could see a surge after the US elections based on previous election year patterns. According to Hyland, Bitcoin has exhibited a pattern of sideways movement during election years, followed by a rally post-election. He cites examples from 2012, 2016, and 2020, where Bitcoin displayed similar behavior. Hyland anticipates a similar trend this year, with Bitcoin potentially consolidating or experiencing a slight decline before rallying post-election. The US presidential election is scheduled for November 5th, and Hyland suggests that Bitcoin's price action could follow a similar pattern.