The road to financial freedom through cryptos FX168 Financi...
The road to wealth with cryptocurrencies
FX168 Financial News (North America) - Even though bitcoin (CRYPTO: BTC) experienced a significant drop in early August, its price has still risen by nearly 40% this year. That's the good news. The bad news is that bitcoin has recently dropped below $60,000 again, with little sign of any short-term rebound. Over the past 30 days, bitcoin has fallen by 11%. In fact, August is shaping up to be bitcoin's worst-performing month since April. However, analysts believe that many concerns about the bear market in bitcoin may be exaggerated. In fact, analysts predict that the next major move for bitcoin will see a rebound to $100,000 by the end of the year.
Why is bitcoin falling?
First, it is necessary to understand why bitcoin is falling. According to analysts, the best explanation is that the slowing inflow of funds from newly launched spot bitcoin exchange-traded funds (ETFs) is constraining the upward movement of bitcoin prices.
To nearly double the price of bitcoin and reach $100,000 by the end of the year, many conditions need to be successfully met. However, if ETF inflows recover and sentiment towards cryptos turns bullish again, this is entirely possible. It is also important to remember that there may be some positive unexpected events that could unleash significant upside potential for bitcoin. Throughout bitcoin's 15-year history, buying on dips has typically rewarded investors. This may be the last opportunity to buy bitcoin at such a discounted price. #By the end of the year, a six-figure bitcoin may become the new norm.
FX168 Financial News (North America) - Even though bitcoin (CRYPTO: BTC) experienced a significant drop in early August, its price has still risen by nearly 40% this year. That's the good news. The bad news is that bitcoin has recently dropped below $60,000 again, with little sign of any short-term rebound. Over the past 30 days, bitcoin has fallen by 11%. In fact, August is shaping up to be bitcoin's worst-performing month since April. However, analysts believe that many concerns about the bear market in bitcoin may be exaggerated. In fact, analysts predict that the next major move for bitcoin will see a rebound to $100,000 by the end of the year.
Why is bitcoin falling?
First, it is necessary to understand why bitcoin is falling. According to analysts, the best explanation is that the slowing inflow of funds from newly launched spot bitcoin exchange-traded funds (ETFs) is constraining the upward movement of bitcoin prices.
To nearly double the price of bitcoin and reach $100,000 by the end of the year, many conditions need to be successfully met. However, if ETF inflows recover and sentiment towards cryptos turns bullish again, this is entirely possible. It is also important to remember that there may be some positive unexpected events that could unleash significant upside potential for bitcoin. Throughout bitcoin's 15-year history, buying on dips has typically rewarded investors. This may be the last opportunity to buy bitcoin at such a discounted price. #By the end of the year, a six-figure bitcoin may become the new norm.
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