Crypto Analyst Expects Slower Price Movement of Bitcoin in August
Blockchainedbb, a famous crypto analyst, has recently offered a comprehensive market update, indicating expected price movements of Bitcoin in the next months. According to Blockchainedbb, August will see slow BTC price movements, with liquidity being swept below the mark of $60,000. The platform disclosed this analysis on its official X account. The chief crypto token is currently trading at $60,700.
Blockchainedbb Anticipates Slower BTC Price movements in August, with a Correction Coming in September
In its recent X post, Blockchainedbb noted that despite the overall slow performance in August, it anticipates a price jump. According to it, this price spike will take the value of Bitcoin to $65,000 from the 8th to the 20th of August. Following the respective brief jump, the top crypto token will potentially remain within a range during the next days of August. After that, a huge market correction will reportedly take place.
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As a result of this, the price of Bitcoin will dip to the range between $55,000 and $57,000. The respective slump plays the role of a natural correction after the movements in August. Additionally, it will potentially deliver buying opportunities to facilitate investors and traders alike. After the slump in September, Blockchainedbb expects a big pump.
The platform forecasts BTC to jump to the range between $68,000 and $71,000 in the period that resulted in the election. The respective pre-election rally will expectedly drive speculation and market activity. Blockchainedbb asserted that a great short will take following the election.
