Analyst: If the pattern of previous U.S. election years is followed, Bitcoin may see a breakthrough in the next month or two

ChainCatcher news, cryptocurrency analyst Matthew Hyland stated that if Bitcoin follows the patterns of previous U.S. election years, the recent lack of momentum could see a significant reversal. Matthew Hyland explained, "Think back to August 2012, when the stock market experienced a massive crash. Then the stock market slowly entered the U.S. election cycle, and it wasn't until after the election that the stock market began to rise significantly. I expect Bitcoin will exhibit a similar trend; there will be some volatility, but it won't be too crazy. Bitcoin's price may remain within the current range for a while, and then possibly break out of this range in October or November."

Additionally, Markus Thielen, head of research at 10x Research, suggested that Bitcoin holders should wait to secure the best entry price before the next bull market arrives.