According to BlockBeats, on August 13, top trader Eugene Ng Ah Sio shared his insights on social media, noting that the current market price trends resemble those of March 2022 or August 2023. He advised investors to choose their preferred direction based on their own analysis.

BlockBeats notes that historical Bitcoin price data shows that in March 2022, Bitcoin rebounded to its highest point below the peak, followed by a unilateral decline in April. In August 2023, Bitcoin experienced a rapid decline in mid-month, followed by a brief period of sideways consolidation before starting a unilateral upward trend.