IS AUGUST A VOLATILE MONTH FOR BITCOIN ⁉️
Bitcoin's latest move has seen a dip, with recent prices hovering around $60,712. Analysts are focusing on several factors that may influence BTC's performance in the near term.
A key point to consider is that August 2024 is expected to be a volatile period for Bitcoin, with potential for price fluctuations.
This month may present a "buy the dip" opportunity, especially if Bitcoin's price drops to the $55-57k support area ).In the longer term, optimism remains high.
Factors such as the upcoming Bitcoin halving and the possible approval of spot Bitcoin ETFs by U.S. regulators are expected to drive prices higher.
Some predictions suggest Bitcoin could reach $90,000 by the end of 2024 due to increased adoption and technological advancements.
However, it's important to approach short-term analyses with caution due to inherent biases and the potential for missing dominant patterns
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