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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-predict-bitcoins-future-amid-market-fluctuations/" data-wpel-link="internal">Analysts Predict Bitcoin’s Future Amid Market Fluctuations</a> 
Bitcoin chart remains dull, and August has not met investors’ expectations. So, what’s next? Popular <a href="https://en.coin-turk.com/bitcoin-hits-new-all-time-high-as-altcoins-struggle-to-keep-up/" data-wpel-link="internal">crypto analyst</a> Hyland compared previous cycles with the current situation and shared his expectations for the next few months. BTC is still hovering around $59,200 and hasn’t reached a safe zone for an upward movement. 
<h2 style="text-align: justify" id="historical-data-of-cryptocurrencies">Historical Data of Cryptocurrencies</h2> 
Analyst Matthew Hyland mentioned in his recent market assessment that similar periods have occurred before. The analyst believes the price drop below $50,000 at the beginning of August and the prolonged consolidation period are not surprising. Cryptocurrencies went through similar processes during the 2012, 2016, and 2020 election periods. 
<blockquote> 
 “I will go back to August 2012, where a significant crash occurred. Then we slowly progressed towards the election and rose significantly after the election. This is the kind of path I expect. A bit bumpy, nothing too crazy, then probably October, November, we will break out of this range.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-380707 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/Matthew-BTC-yorum.png" alt="" width="1047" height="582"> 
In his view, August will continue to be dull. His projection, which suggests more demoralizing days ahead, aligns with the September interest rate cuts. 
<h2 style="text-align: justify" id="cryptocurrency-predictions">Cryptocurrency Predictions</h2> 
Bitcoin price has dropped by approximately 10% since July 18. The losses in altcoins are much greater. Some analysts expect deeper dips. Contrary to the general market consensus, some even expect a decline in September. For instance, crypto analyst Rager stated in his recent market assessment: 
<blockquote> 
 “Personally, I think the Bitcoin price will be lower than its current price before the end of September.” 
</blockquote> 
In the short term, he expects some recovery by the end of the month. Michael Poppe updated his worst-case scenario, suggesting that if $56,000 is lost, a Black Monday story could lead to a new test at $48,000. 
Markus, Head of Research at 10x Research, also advises investors to wait for BTC to drop to $40,000 for the best entry. He wrote exactly this in his report published at the beginning of this month. 
<blockquote> 
 “To ideally time the entry into the next <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a>, we target Bitcoin prices to drop to the low $40,000s.” 
</blockquote> 
Of course, none of them have the ability to see the <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a>, and cryptocurrencies are full of surprises. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-predict-bitcoins-future-amid-market-fluctuations/" data-wpel-link="internal">Analysts Predict Bitcoin’s Future Amid Market Fluctuations</a></h5>
The post <a href="https://en.coin-turk.com/analysts-predict-bitcoins-future-amid-market-fluctuations/" data-wpel-link="internal">Analysts Predict Bitcoin’s Future Amid Market Fluctuations</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Analysts Predict Bitcoin’s Future Amid Market Fluctuations

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