Bitcoin headed for breakout or breakdown? Analysts weigh in
Analysts say upcoming rate cuts could be a boon for Bitcoin’s price action but the market is still in “wait and see” mode.
Crypto analysts are tipping three major events in the coming weeks that could drive up the price of Bitcoin, depending on how the market reacts to them.
For the last seven months, Bitcoin has traded in a downtrending range between $74,000 and $52,000 and investors have grown increasingly restless about whether or not BTC will breakout to the upside or if its price will continue to crumble.
Coinstash co-founder Mena Theodorou told Cointelegraph that the next major move for Bitcoin will hinge on how the market responds to upcoming political and regulatory shifts in the United States during election season, as well as upcoming macroeconomic data.
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Author: Tom Mitchelhill
