Bitcoin Market Outlook in August 🔥

Market Review:

Bitcoin ($BTC) experienced dramatic fluctuations in July, rising from a low of $50,000 to nearly $70,000, with an increase or decrease of 26.84%. The dramatic fluctuations during this period have made the market full of uncertainty and opportunities.

August Outlook:

From the weekly candlestick chart, the market in August may not be immediately clear. It is expected that there will be a small correction in the first half of August, which may test the position of $60,000 to $63,000 or even lower. This correction is a process of market correction, preparing for the rising market in the second half of the month.

Key Factor Analysis:

Rise after correction: If the correction to the support level of around $60,000 is confirmed, the market is expected to start an upward trend in the second half of August.

Expectations of US interest rate cuts: The positive news of the US interest rate cut in September may affect the market in advance, pushing the price of Bitcoin above $70,000. Interest rate cuts usually have a positive impact on the crypto market, which may trigger capital inflows and market optimism.

Policy factors: If Trump is elected as the US president and proposes policies that are favorable to Bitcoin, this may further promote the arrival of the bull market. Policy changes have a significant impact on the crypto market, especially when it comes to regulation and legalization. #比特币大会 #币安HODLer空投BANANA #BTC☀ #wif #banana $JTO $1000SATS $RIF