What is your prediction for this month. August

[Majestic-milf]

 The hype in the US election is finally getting over and with it, Bitcoin price is also dropping fast. This morning, as at time of writing, price is $52,454.62 and it can go down. Maybe the earlier expectations for it to rise high towards $70k is not going to be met this month and may experience some drag even in September but that will be running too fast.

[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.

Currently, bitcoin is priced at $61k so if this will continue to decline, we will see another price dropping below $60k. As much as we want to speculate bitcoin price this month not reaching again $60k or below, but here we are now almost returning back to that phase, and the worst thing is we can't do nothing about it but wait until it recovers again. I guess my only hope this month is just to see btc price finally surpassing $70k, but I think it's still quite hard to achieve this time.

The drop doesn't mean it won't really get it pace back to $65-$69k or which ever amount it was just that the delay it will take will be much that it only looks like it won't get a little closer to the suppose $70k which seems to the the resistance at the moment but ones it does I believe $70k won't stop counting but for now is only hoping for a positive movement in the market price, but to me August isn't going to be as strong in pumping of Bitcoin price just like that of last month.

It seems that the dip now has had a lot to do with growth expectations for the US, which do not look as rosy as expected, and investors are doubting whether the Fed will finally not make a rate cut at the next meeting as expected. In the end, like it or not, the price depends a lot on monetary policy and expectations about it.

Both the price of Bitcoin and stock markets in general suffered a dip as soon as the US employment data was released.

Looking further ahead, what will happen in August I do not know, because it is a month with low volume in which prices can move with less capital.

Where are we going to place this drastic fall of Bitcoin price? It wasn't suppose to be down to $50k-$51k, for the better part of last 2 weeks the market price was healthy going towards $70k+, I know many was hoping on seeing Bitcoin price making a move to $70k-$75k since the Trump incident and now I have to ask how far has the market price been since then? We base on expectations but we shouldn't be too carried away by what the market is giving us, to me I can't really say if this month has a positive approach to get above $65k but we just have to wait.

[jubalix]

This thread shows, 4 days is a loooooong time in crypto space.

[bestcoins1]

Where are we going to place this drastic fall of Bitcoin price? It wasn't suppose to be down to $50k-$51k, for the better part of last 2 weeks the market price was healthy going towards $70k+, I know many was hoping on seeing Bitcoin price making a move to $70k-$75k since the Trump incident and now I have to ask how far has the market price been since then? We base on expectations but we shouldn't be too carried away by what the market is giving us, to me I can't really say if this month has a positive approach to get above $65k but we just have to wait.

There is no other way but to wait because today I also witnessed Bitcoin price going below $50K although it was only for a very short period of time because I saw it on the local exchange. This is very painful for those who had bought Bitcoin at $70K although they can all still wait for the bullrun to turn the condition to a more favorable direction. Because at this time, everyone's patience must be really tested and those who don't have that, I think it will be easier for them to let go of Bitcoin and cause losses for themselves.

[pooya87]

Bitcoin seems to be reacting negatively to global tensions. We saw this exact trend in April as well (I made a topic about this) and once again we are in the same situation and bitcoin is acting the same way which happened at the same time as a small correction which made the dip bigger.

Like in April, Israel committed an act of terrorism and Iran is preparing to punish this terrorist organization. Ever since Israel's terrorist attack on Wednesday we have been witnessing all markets being affected. Like the dump in US stock markets and the bitcoin price dumping all the way to $60k.
If those tensions go higher, we could witness much bigger dumps. US Stock market would crash hard and bitcoin could reach $50k.

I have to admit, when I posted this yesterday I did not expect the situation to escalate this fast. Although there are definitely other contributing factors but I believe this tension is the major thing that has caused this massive crash all the way down to $50k.
The US stock market has tanked 4% so far as well.

This is before Iran punishing the terrorists. I wonder what happens during the operation which analysts suggest is going to be a 4 day heavy bombardment of the Israeli terrorist positions which could also include NATO positions if they get in the way.

[Marvell1]

Where are we going to place this drastic fall of Bitcoin price? It wasn't suppose to be down to $50k-$51k, for the better part of last 2 weeks the market price was healthy going towards $70k+, I know many was hoping on seeing Bitcoin price making a move to $70k-$75k since the Trump incident and now I have to ask how far has the market price been since then? We base on expectations but we shouldn't be too carried away by what the market is giving us, to me I can't really say if this month has a positive approach to get above $65k but we just have to wait.

There is no other way but to wait because today I also witnessed Bitcoin price going below $50K although it was only for a very short period of time because I saw it on the local exchange. This is very painful for those who had bought Bitcoin at $70K although they can all still wait for the bullrun to turn the condition to a more favorable direction. Because at this time, everyone's patience must be really tested and those who don't have that, I think it will be easier for them to let go of Bitcoin and cause losses for themselves.

From $70k to $52k, that means bitcoin is down just over 20%, and I don't think this will hurt anyone if they don't use leverage and invest for the long term. We all want to make x5, x10 profits from bitcoin but if we cannot endure temporary declines, we will never reach our goals. Everything has its price. If we want higher profits, we have to endure more pain and risk, that's the price we have to pay, so let's be ready.

The cryptocurrency market is risky and volatile, if we are not willing to face losses, we should not think about making huge profits from them.

[Jessie2121]

Where are we going to place this drastic fall of Bitcoin price? It wasn't suppose to be down to $50k-$51k, for the better part of last 2 weeks the market price was healthy going towards $70k+, I know many was hoping on seeing Bitcoin price making a move to $70k-$75k since the Trump incident and now I have to ask how far has the market price been since then? We base on expectations but we shouldn't be too carried away by what the market is giving us, to me I can't really say if this month has a positive approach to get above $65k but we just have to wait.

There is no other way but to wait because today I also witnessed Bitcoin price going below $50K although it was only for a very short period of time because I saw it on the local exchange. This is very painful for those who had bought Bitcoin at $70K although they can all still wait for the bullrun to turn the condition to a more favorable direction. Because at this time, everyone's patience must be really tested and those who don't have that, I think it will be easier for them to let go of Bitcoin and cause losses for themselves.

All I see is too much loss for those who bought at $70k like you said, is not going to be easy to even wait till Bitcoin goes up to surpass that $70k which I don't think is going to be that easy, selling is the next thing that's ringing in the minds of investors. Having much patience in this particular time is the last thing anyone should be thinking of at the moment, a miracle is needed at crucial time, nobody wants to lose especially if we wake up and find Bitcoin price at $48k it will hurt more. We shouldn't always avoid the fact that is always the losing part that comes more than having more profit.

[dezoel]

To be fair nobody predicted the price to be this low, it's definitely a shocker that it crashed this quickly, something we haven't see in a long time. But that's fine, we are just going to live through another bad period and then recover, like we always do and that's not going to be an issue at all.

We need to realize that things aren't always that complicated, sometimes it's just something that takes some time but we always recover in the end. If we can do that then we are going to end up with a greater result, and should be fine situation. Not going to end up with anything that's unheard of before so we can feel calm.

I believe that 60k+ will come soon enough, probably within next 15 days, and then the rest will be just staying above that and waiting, not moving too much. Same thing happened in July, crashed down, then went back up ,and then stayed there, until another crash. So September may even have another crash, but maybe we will say enough and start to go back up.

[STT]

The low today is something that should hold if we want to continue the gains since the 5th August spike down.   Otherwise there is a risk of losing that sequence and momentum upwards.

Weekly average is on the low today and also a Fibonacci level for the wider time frames.  Price right now trades at the 2 day average which represents the recent decline in BTC price action.   So I will guess 60k and above we trade positive onwards and if we fail then we must challenge again 57.7k possibly failing there, if this area is pivotal it should accelerate the pace of change also.

[CoinFoxs]

There will no big move by bitcoin in this month of august, bitcoin is currently at 60k $ so it will trade between 57k $ to 62k $, no big increase in Bitcoin’s price by the end of august but yes by the mid of September we might see a big pump in crypto market.

[Nothingtodo]

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?

I don't think bitcoin will go above $65k in August but it is easy to predict that bitcoin will go below $60k.  The market moved from $67,000 to $50,000 due to several events in July, but the market is currently in a bit of a correction form at $6,000.  However, the market is very likely to go above $65,000 by the end of August, but it is unlikely that the market will ever go above $70,000.

[Natalim]

There will no big move by bitcoin in this month of august, bitcoin is currently at 60k $ so it will trade between 57k $ to 62k $, no big increase in Bitcoin’s price by the end of august but yes by the mid of September we might see a big pump in crypto market.

I have to agree with this. There's no significant price increase that may bound to happen within this month, and btc price might probably be stuck to $60k below at the end of the month. However, if ever there are crucial events that will suddenly create positive impact to bitcoin and the market, then bitcoin price might surprise us again with another price pump, but if there's none, then let's wait for the last quarter of the year because it's probably the perfect time to see a significant price increase for bitcoin.

[EarnOnVictor]

Let us begin the August fun of speculation and guesses.

My verdict for Bitcoin this month is neutral and I wouldn't want to force things. However, the bias on the medium-term disposition is bearish.

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?

The chance of Bitcoin hitting $70,000 in August is slim. Perhaps it could be possible if the coin breaches above the weekly chart TrendMagic resistance at $62,120. I've made reference to this level many times and it continues to be a strong level to know the bias of the market.

If Bitcoin holds a strong bearish price action below it, it may depreciate further, but it has a higher chance of rising if it moves and stabilises above the level.

[laijsica]

There will no big move by bitcoin in this month of august, bitcoin is currently at 60k $ so it will trade between 57k $ to 62k $, no big increase in Bitcoin’s price by the end of august but yes by the mid of September we might see a big pump in crypto market.

I have to agree with this. There's no significant price increase that may bound to happen within this month, and btc price might probably be stuck to $60k below at the end of the month. However, if ever there are crucial events that will suddenly create positive impact to bitcoin and the market, then bitcoin price might surprise us again with another price pump, but if there's none, then let's wait for the last quarter of the year because it's probably the perfect time to see a significant price increase for bitcoin.

I think the price of Bitcoin is crossing the trend now as an unstable price it may go further down although we can only speculate. The world's political uncertainty has pushed the value of most cryptocurrencies, including Bitcoin, to bearish levels. Every negative impact, including the turmoil in the Middle East and the upcoming elections in the United States and the increase in inflation in the financial sector of the developed countries of the world, is one of the reasons for the downward trend in BTC price. But I think most of the holders are more focused on increasing their holdings which has not had much negative impact on the market.

[JeffBrad12]

There will no big move by bitcoin in this month of august, bitcoin is currently at 60k $ so it will trade between 57k $ to 62k $, no big increase in Bitcoin’s price by the end of august but yes by the mid of September we might see a big pump in crypto market.

I have to agree with this. There's no significant price increase that may bound to happen within this month, and btc price might probably be stuck to $60k below at the end of the month. However, if ever there are crucial events that will suddenly create positive impact to bitcoin and the market, then bitcoin price might surprise us again with another price pump, but if there's none, then let's wait for the last quarter of the year because it's probably the perfect time to see a significant price increase for bitcoin.

agreed, i think BTC will just start picking up at the end of the year though, currently it's always swinging around the range of $55k - $63k so if we want to see BTC above $70k and beyond maybe end of the year is the time where we gonna see such price gain.

once people finally figured out that BTC could easily contain the Mt.Gox dump the market fear and greed index will be better and the market will start worrying about getting bevlow $50k.
current month just isn't really the right time with all the fuds if i'm being honest.

[Nothingtodo]

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?

At the end of August, it is not possible to make any detailed predictions about the price because Bitcoin is still below 60 thousand dollars. However, if the market increases, it can go up to 62 or 63 thousand dollars, but there is no possibility that the market will go to 70 thousand dollars by August. If the market goes below $56,000 or $55,000, Bitcoin will never cross $60,000 in August.  Again, if Bitcoin crosses $65,000 by August, it can cross the $70,000 support line at any time.

[SamReomo]

I believe the highest point of Bitcoin at the end of the month would be around $63k or maybe a little bit higher than that but if it continues to dump like it's getting dumped on daily basis then there's no chance to see even $62.8k.

I'm hoping to see Bitcoin at $62k or above by the end of this month but if bullish turns gets intense then there's chance to see it over $65k for short time before it gets dumped again.

[NicNacCoin]

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 have seen the Bitcoin market hover below $60,000 to $60,000 throughout August. However, many believe that Bitcoin can go below 50,000 and many believe that Bitcoin can go above 70,000. However, with the volatility that has started in the Bitcoin market, I cannot make an accurate prediction, but I can only say that Bitcoin may not stay in the $70,000 range by August. Because the market is going down more than it is going up. But one thing must remember that Bitcoin market will grow but you can see it by 2024. Don't worry about that investment if someone hires you, keep your investment, hope you can definitely get something good from here.

[JeffBrad12]

I believe the highest point of Bitcoin at the end of the month would be around $63k or maybe a little bit higher than that but if it continues to dump like it's getting dumped on daily basis then there's no chance to see even $62.8k.

I'm hoping to see Bitcoin at $62k or above by the end of this month but if bullish turns gets intense then there's chance to see it over $65k for short time before it gets dumped again.

always rejected at $61k, but if it can keep retesting the $61k eventually it will break through, the concerning thing is if it goes down below $54k it might cause massive dump, but since institutional investors keep buying BTC i don't think that will be the case.

just hoping that at the end of the august it will hit $63k and breakthrough the difficult resistance at $61k however, if BTC Dominance is also increasing, altcoin will suffer the most.

so be careful to any altcoin holders out there, need to observe BTC dominance more frequently.

[betswift]

I believe the highest point of Bitcoin at the end of the month would be around $63k or maybe a little bit higher than that but if it continues to dump like it's getting dumped on daily basis then there's no chance to see even $62.8k.

I'm hoping to see Bitcoin at $62k or above by the end of this month but if bullish turns gets intense then there's chance to see it over $65k for short time before it gets dumped again.

always rejected at $61k, but if it can keep retesting the $61k eventually it will break through, the concerning thing is if it goes down below $54k it might cause massive dump, but since institutional investors keep buying BTC i don't think that will be the case.

just hoping that at the end of the august it will hit $63k and breakthrough the difficult resistance at $61k however, if BTC Dominance is also increasing, altcoin will suffer the most.

so be careful to any altcoin holders out there, need to observe BTC dominance more frequently.

Yeah, I don't think we will see it down to $54k, the goal is the liquidity near $62k, both for big hands and common people. Local corrections can happen, but it won't change the trend