What is your prediction for this month. August

[Odusko]

August will still bounce around a bit a be pretty quiet. The bigger drama happens closer to the USA election, when their economy will probably take a huge hit from a crippled Dollar with a bleak future. Sept to Nov is a time range to see real action when BTC can fly above the current ATH. Note: Many people will suffer, please help some of them when you can.

Really why do we relate bitcoin price movements in this season so much to the upcoming US election?
I think bitcoin will this time move against the desired expectations, at least if not so big then with just a little moderate market reaction from whatever the outcome of the election will be, I think the time that bitcoin will have some reaction in that direction is during the campaign and as we see so e of the condiddates are already rooting for bitcoin and how the feel about bitcoin and it related activities, and they intention about bitcoin when they eventually win the election, all this will have more positive and negative reaction on the price of bitcoin in a short term basis, but also I believe that bitcoin have moved beyond the stage where just a country elections will have long term impact on the value of bitcoin since bitcoin can easily act independently at anytime.

[Viscore]

Let us begin the August fun of speculation and guesses.

We can see the volatility to be good but bitcoin remain less volatile also as the price is bouncing back. Since bitcoin got to all-time high in March of this year, it still fall below $60000. It fell below $60000 also in April, May, June and July. We are in August now, will bitcoin fall below $60000 again?

The second question is that, what would be the highest price of bitcoin in this month of August? Will bitcoin increase above $70000 which has been a very strong resistance?

We can't actually be certain that bitcoin will be consistent already in its price increase, but one thing is for sure, it will always recover every after fall. For now, I still think that bitcoin price is still very prone to price correction, as it's inevitable, but most probably,if ever it'll fall again below $60k, the price comeback will be most likely big this time. Bitcoin could now surpass $70k or more, we just have to wait patiently the perfect timing when will Bitcoin skyrocket again if ever it goes with another drastic drop.

[Ndabagi01]

The second question is that, what would be the highest price of bitcoin in this month of August? Will bitcoin increase above $70000 which has been a very strong resistance?

Bitcoin just bounced back from that resistance area few days back before the new month. With the speed in uptrend of bitcoin before hitting that resistance area, I expected it to break through it and give us a value close to the ATH of this year. The new month have just began and the market looks to be in a ranging movement. I don’t expect much from bitcoin in the first week of this month but later in the month, we might see a price push to give us another value above the $69K value which is very likely to happen as the bullish period is very much anticipated in the soonest where some other think we are already on it.

[STT]

Good rally today above the 50 average, it might not feel like it but carrying on that performance would make BTC very positive for this month and beyond.   Overall and even if we do slip under the 50 average, I dont see BTC as much more then lax or idling.   We cant be classed as negative for staying in the heavens so long even if its going up and down, its never really lost altitude for long.

August will be fine seems like, the months beyond is when we perhaps get greater volume and movement.

[Majestic-milf]

 We nearly saw $70k last month because of the rally Trump gave it and maybe we can see something better this time around. August is usually a good month for Bitcoin and I'm pegging my price range to be around $70-72k before this month runs out. We have maintained a balance of around 60-68k since it moved from the last dip of $58k and I believe this figure won't be experienced in a long time.

[Out of mind]

We have seen the Bitcoin market dip a bit and move relatively lower. But towards the end of July we saw the Bitcoin market grow a lot when the price of Bitcoin touched $70,000. But currently as we have entered the new month of August, the Bitcoin market has moved closer to $70k to $60, but the market is currently growing slightly upwards. However, I think the Bitcoin market is likely to touch $60,000 in August. And there is a possibility that the August peak may go over $70,000. And if Bitcoin's market crosses $70000 then of course it is likely to grow even more.

[cryptoWODL]

No one can say anything for sure about the crypto market because of the volatility. Investors can only predict the market, just as we can predict that the price of Bitcoin may rise to 70 thousand or more in August.

In 2024 saw the price of Bitcoin touch an all-time high (ATH) since then we have gone through a few months and every month we have seen the price of Bitcoin drop a little and then rise a little. We saw in July that the crypto market took a bit of a tumble after the resignation of US President Joe Biden, when prices of other crypto coins, including Bitcoin, fell. At the end of July we saw a rise in the price of Bitcoin but at the beginning of August i.e. when I checked the market yesterday Bitcoin had dropped to $63k.

[maydna]

Many us wants Bitcoin back to increase but if the price still get correction, what we can say except just to wait and still accumulate more in the down. The Bitcoin price now still up and down perhaps faster and makes some of us confuse with the movement. But it will temporary to happen and it is a test for us to keeps patience and still hodl our Bitcoin while we can buy more amount.

I don't have any idea where Bitcoin will moves because we are still at beginning of the month so many things can happen. The chance for Bitcoin to fall below $60000 will be there but we know that Bitcoin price can also have the same chance to go up. Perhaps this month, if Bitcoin price increase, the price can increase above $70k or it will just touch $68000 so we must be calm and patience.

[FinneysTrueVision]

The Mt. Gox distribution is still ongoing. The U.S. government also sold some Silk Road coins. These events will keep the price down for a while. ETF demand was driving bullishness for a while, but that hype has started to fade. There isn’t anything else right now that can push the price to an all time high. I believe we will end the month in the low $60,000’s level.

[Iranus]

The Mt. Gox distribution is still ongoing. The U.S. government also sold some Silk Road coins. These events will keep the price down for a while. ETF demand was driving bullishness for a while, but that hype has started to fade. There isn’t anything else right now that can push the price to an all time high. I believe we will end the month in the low $60,000’s level.

As of right now, Mt.gox only holds 32kBTC and they will continue to transfer them to exchanges until they run out, but do you see anyone still mentioning or concerned about this? I hardly see anyone paying attention to this news so I don't think it will have any impact on the market.

The ETF's inflows have been consistently positive in recent days, so it can't be said that the hype surrounding it has ended. Everything is going as normal, funds and institutions are still actively buying bitcoin every day while retail investors are selling.

I guess the lack of positive market movements is because people are afraid of a recession because if we rely on history, every time the Fed lowers interest rates, we will have an economic recession. The news that the Fed lowered interest rates in September is not necessarily good news and it is not difficult to understand that the market is being cautious.
https://platform.arkhamintelligence.com/explorer/entity/mt-gox

[Doan9269]

For every investor now in bitcoin, we should invest with care before the market is getting more volatile unlike before, you may have to discover that in a day, the market may go as dip as $62,000 and before the evening time turned $68,000, this is all because there is going to be a shift whereby the market may either fall more or instead rises the more and form a new all time high, we cant predict and this calls for trading and investment with caution.

[mirakal]

The second question is that, what would be the highest price of bitcoin in this month of August? Will bitcoin increase above $70000 which has been a very strong resistance?

I couldn't say there will be a huge price pump, making the price reach $70,000, but that will remain possible anytime.

We know that the majority is thinking about a bullish situation after halving, but the situation has never been given such favor. Instead, it drops and stays at $60,000 to $65,000. So I think that we are still experiencing the same trend until the end of this month. We don't expect too much because it all remains uncertain, no matter what.

Maybe I'm wrong, but I have the feeling that the trend will remain like this until the end of Q3. 

[YOSHIE]

Let us begin the August fun of speculation and guesses.

From several analyzes and speculations that I have read from several Bitcoin experts or globally digital currencies, overall for that year, Certainly in August the price of Bitcoin will not jump further, remaining at $65k if it rises, only $57k for the price falls more specifically.

It's hard to step up to the $70k or $80k level, for this year, for various reasons, my guess for August's Bitcoin price remains at $65k.

The second question is that, what would be the highest price of bitcoin in this month of August? Will bitcoin increase above $70000 which has been a very strong resistance?

My strongest speculation is not far from the $64k figure, a big drop, possibly and for $70k there is no view/darkness.

[goldkingcoiner]

I think no news is good news. And if we do not see any bad news in August (as in another sell-off) then at worst, we should bounce back and plateau between 55 and 65k.

But that is an educated guess. DYOR.

[Ojima-ojo]

We nearly saw $70k last month because of the rally Trump gave it and maybe we can see something better this time around. August is usually a good month for Bitcoin and I'm pegging my price range to be around $70-72k before this month runs out. We have maintained a balance of around 60-68k since it moved from the last dip of $58k and I believe this figure won't be experienced in a long time.

Really likely we may see bitcoin making a price above $72k as you speculated because there are loads of events in this month that is going to give bitcoin a positive market for the month and this August may be our highest performing month for the year, although we already had the all time month which is March 2024 but even if we don't record such price that make up the all time high, we are going to have some level of bitcoin price increase that will leave a positive mark on the bitcoin chat for the year 2024.


But still this is just my own speculations based on the available data and analysis, bitcoin could move opposite my predictions.

[aylabadia05]

Basically I expect August to be a good month for bitcoin price growth. However, in reality, the mental test continues, where the price of bitcoin fell again several percent at the beginning of August. As I write, the price of bitcoin is trading at $62,800, which is definitely beyond my expectations. Selling pressure is too high, even as bitcoin tries to recover from its previous dip above $65k.

My hope is obviously that August will bring me joy, but I won't worry too much about it. I can still survive amidst market conditions like this, while I regularly accumulate as much as I have. There is no other choice, accumulate and hold longer.

[serjent05]

Nothing can be said for sure, but almost everyone is expecting 70K + by August. And it has many possibilities. Bitcoin reached $69,900+ just 2 days ago, Bitcoin did not cross 70k due to little not growth, so we can definitely expect Bitcoin to cross 70k this month. Now we just have to wait for one more pump, hopefully the next pump will see Bitcoin hit 70k. And it is very likely to happen within this month. Now let's see when it happens, because we can't say anything for sure.

I am also bullish for Bitcoin this month of August.  Aside from the sell-off being finished the active announcement of Trumps support to Bitcoin may bring a positive emotion in the market.  The news about the idea of Trump and Sen. Cynthia Lummis proposing Bitcoin as strategic reserve[1] may bring hype to the Bitcoin market.

Aside from that positive news about Bitcoin rebounding will also lighten the mood of the market.

It's hard to step up to the $70k or $80k level, for this year, for various reasons, my guess for August's Bitcoin price remains at $65k.

When it comes to Bitcoin, we can't really tell whether it is really hard for BTC to reach $70k to $80k level.  We have witness how the trend of Bitcoin disappoint people and often times trend goes the opposite if not making the market performance way more than what is expected.  Bitcoin market is full of surprises so it is kinda hard to tell whether BTC will go up, goes sideway or get dump.

As I stated I am bullish for this Aug. so I am expecting for the price to rebound and eventually shatter the $70k barrier again.


[1] https://www.coindesk.com/policy/2024/08/02/bitcoin-as-a-strategic-reserve/

[GeorgeJohn]

It's obvious that price of bitcoin is unpredictable and if you understand the rudiment of bitcoin you will know that prediction of Bitcoin is a personal suggestion and is also assumption from my perspective, you might portray your point of view concerning price of bitcoin today

And reaching tomorrow the price of bitcoin changes, that's while I do state it categorically that the price of bitcoin is unpredictable, you can make your prediction and possible you maybe closer from the prediction and you may also not be close to the prediction

Secondly, don't predict because people is predicting the price of bitcoin but ensure that you have make a possible research of any kind of cryptocurrency before you make your prediction known to people.

[uneng]

Yesterday Bitcoin managed to bounce back up to 65,000$, but today it's already dumping to 61,800$... The market is crazy right now. FED announced a cut in interest rates in September, so it should be seen as good news by Bitcoin investors. I risk saying what we are seeing right now is a bear trap, maybe the final one until a big pump above 70,000$'s. Speculators are testing investors on how strong their hands are right now to resist the pressure and continue holding.

August begun as an uncertain month, but September promises to be an exciting one. I'm more bullish regards the final months of the year.

[Jessie2121]

To be honest I never believed that Bitcoin price would still be going back down to $61k after the rush to hit $70k, this month of August isn't going to yield anything productive as in getting close to the $70k maybe towards September that we could see the price at $70k+ and many are still saying is because of the incident that happened to Trump when he got shot that made it start moving up but at this period I think Bitcoin price is going to make a move gently to at least $65-$68k before middle of this month of August.