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Bitcoin – Here’s what you should expect IF BTC falls below $56K again

Bitcoin [BTC], the world’s largest cryptocurrency by market capitalization, has seen considerable depreciation over the past week. In fact, at the time of writing, BTC was down by over 7% to trade at a value of $59,129 on the charts.

August, in general, has been fairly volatile for the cryptocurrency. For instance, BTC dropped to as low as $49,500 on the charts earlier in the month, before recovering soon after. In fact, it later hit a local high of over $65k too, before losing its gains again to drop below $60k.