I haven't come across any discussions on what Bitcoin's price might look like in August. Usually, we see Bitcoin not doing so well in August compared to July, often taking a dip. Lately, I've noticed it's been dropping a bit at the end of the month, going from $112,600 down to $116,400. I think that's still a pretty normal drop, nothing to freak out about. Historically, August is actually a great time to buy or stack up on Bitcoin, so don't let it pass you by. Personally, I think Bitcoin will bounce back to $120,000 by the end of August, probably sitting around $114,000 to $120,000 during the month. But that's just my take, what do you all think?
This is it: https://bitcointalk.org/index.php?topic=5552361.0
I easily saw it on the first page of the speculation board. Do not look for it on bitcoin discussion board but on speculation board. Also if you make use of search engine, you would have probably seen it.
Are you sure this has not been done at the speculations board, you can have a look on this https://bitcointalk.org/index.php?topic=5552361.0 anything that has to do with market price performance and discussion are made there on the speculation board.
We still have a long way to go in this month, we cant predict the precise direction at which this may take, bitcoin will always remained unpredictable in some certain situations, because before you know it, it has been on up and down trend and the market remain ever volatile.
What if we talk about the development of Bitcoin prices for the long term count of years or the end of the year, for me when talking about the development of Bitcoin for only one month, like August I think that time is too short to talk about.
Of course the price of bitcoin prices in the period for one hour or night can jump dramatically, but it can be influenced by several things support for this phenomenon.
But for me the price of Bitcoin for August remains at the level of $ 115K -$ 118K.
I think it is too short too. Except something happens if not a monthly check of the price of bitcoin is just too short and if a year is too long then 3 months or 6 months is a good time for development of bitcoin.
August will not be eventful but for me I will predict $119k to $120k
Bitcoin price now pumping again if everything goes well then the price if Bitcoin can go above $120k but if again down for any strong reason then Bitcoin price can go below $110k.
Various actions of America such as increasing tariffs in various countries and publishing various documents on crypto laws and expressing their different opinions on crypto and reducing or increasing taxes on crypto can affect Bitcoin. Another thing is that according to the previous pattern of Bitcoin, the price of Bitcoin is now supposed to decrease but the price of Bitcoin is stable and some are increasing so it is very difficult to make a possible prediction now.
I will try to analyze it from a technical analysis perspective @bitzizzix
Currently, Bitcoin is still in a dominant downtrend in the high time frame, as seen from the red trend line and the formation of a series of Lower Highs (HL) and Lower Lows (LL), indicating a bearish structure.
However, an uptrend has emerged on the lower time frame following a price retest in the zone area ($111,950). The price is now targeting the supply or resistance zone ($118,000). If the price successfully breaks out or closes above the trendline (gray zone), there is a high likelihood it will target the previous high ($123,200) to attempt a new high. However, if this scenario does not play out (resulting in a rejection), the price will stall and reverse back to $111,950 following the decline in the higher time frame. At that point, the price may attempt to form a new lower low at $109,000.
The price between $114k and $120k, you actually thought Bitcoin would hover around in this August, Bitcoin might cross it before the end of August. My own speculation
It's the 7th of August, Bitcoin is fluctuating a little above $117k. Don't you think that Bitcoin might cross the ATH of $123k that happened last month since there are many remaining days in August for Bitcoin to give another round of uptrend movement in price
Such a good analysis, but we have a problem about BTC these days. I noticed just last week and until now BTC's position on high trading volume is dropping, and more and more traders are switching to trade with ETH and XRP. This is based on what I noticed, and I feel that we are in altcoin season, and more people are interested in different coins than BTC.
So the chances to break the resistance zone under that higher trend line is pretty weak unless the trading volume increase.
It seems they are changing their priority, I guess; unlike before, when traders stayed trading with BTC until just last July, it changed.
Let's see I might be wrong since crypto is unpredictable, and I believe if other major coins rise, they also bring a BTC price increase.
Not only OP but many members are also not optimistic about this month because they think August is not a favorable month for bitcoin. They look at history and think it might repeat itself this year, and while that's not entirely wrong, I don't think it's entirely right. Because each year the market will go through different impacts and stages, we cannot completely rely on the past to judge the future.
This year we have had huge flows from ETFs, a pro-bitcoin president and administration. More importantly, we are in a bull market (4-year cycle), so there is nothing to be pessimistic about right now.
Bitcoin hit $117k following news that Trump signed an executive order paving the way for 401(k) retirement accounts to invest in bitcoin and crypto. Therefore, I think it is not difficult to reclaim $123k in the coming days or will reach a higher ATH.
Yeah that sounds pretty good, I mean the real party is going to start in October - January historically that is when the prices for BTC truely rally. BTC is one jolly MFER. I love that Shiz. Man, if only more folks could HODL their SATs instead of CASHING like junkies who got a little funky and don't know what they're gonna do when they lost all they $$$. Sometimes I like to spontaneously drop a sick line so just pretend I was rapping at the start of BTC is one jolly mutha Fu$&er. 120k all day son!
Past event cant always determine what will happen next, predicting if bitcoin price will surpass the present ATH this month can be difficult well we might not know viewing the market price is on the good side definitely it might go beyond or even less. Currently bitcoin price is at $116k range, its actually a good one knowing how the price can just rise in few hours at anytime besides August is still early possibly the history will be different.
Well, you could be right tho. But can still use historical recurrences at certain periods to predict the future outcome and even if we might not hit at the exact figures with our predictions we might be close enough somehow. I think these are what guides some of our speculations about the market.
Just as the OP explained, historically, August is one of those months you can find a decline in bitcoin price to buy for a later rise in bitcoin price.
Or maybe we should just look at the bigger picture so that we won't be nervous when the price dip? Just like when the price goes down to $113k, many thinks that we will go down to $110k because of uncertainty. But then again, we have bounce back already to $116k and so that kind of short term prediction has been invalidated. So we start to the drawing board and see what the future ahead. However, for long term investor, it doesn't make sense unless you are short day trader or just trying to take advantage of this kind of mild swings to squeeze some profit. Not saying that it's bad to make prediction in short term or even monthly. Nevertheless, it's really hard to predict where the price is going to be in short time frames.
I think there is a separate thread for discussing on the speculation of Bitcoin, moderators will move this if they find it necassary.
Well speaking of August month it is a slow month as we all know Btc price dropped in 1st August and then rebounbed back to $115k to $117k and by the end of August it is possible for it to hit $120k but this is not really a big target but a recognizeable resistance it is and if it won't be tested again and again then Btc will struggle between these price ranges you mentioned.
Even on the lower side, it can go as low as $111k which is not good for the price action. Expert call it the Ghost month and mostly in this month the price consolidate and in the next month the price will still consolidate and we won't see any big pumps.
It is not unusual for BTC prices to fluctuate in August. In many previous years, the price has decreased or remained stable in August compared to July, but it is not always necessary to take it seriously. As you said, the return from $112,600 to $116,400 is a normal breathing condition of the market, which can be considered normal.
Those who bought or deposited patiently in August in the past have received good returns in the subsequent period. So even if the price fluctuates between $114,000 and $120,000, it is better to see it as an opportunity. Now wait and see if your $120,000 prediction comes true at the end of the month. Let's see in which direction the bitcoin price moves this month.
Things are pretty much the same as before.
There is a recession going on and a lot of economic war (includes the tariff war) that has made things uncertain which means there is going to be a sell pressure present in the bitcoin market. But at the same time we have been seeing the price rise despite that sell pressure.
So for the time being, we can see more sideways before the next small rise possibly to reach $130k and then repeat the same thing again.
Maybe there's a sort of selling would gonna happen but I don't think it will last long since there's a chance that people would realize that Bitcoin is better than fiat in terms of crisis like this.
Then there's a chance that Bitcoin would gain attention especially if after correction happen there's another great recovery will happen.
But Bitcoin seems doing pretty well despite of those negative thought's spread and maybe in next following days we could see Bitcoin would reach at $120k.
The general picture is the same but each month, there are different news and expectations from people in the market. They are short term speculators and they don't have vision for future, for their investment portfolio but only think of short term volatility and opportunity.
Governments don't change, fiat currency inflation problems don't change and purchasing power of all fiat currencies decline dramatically with time, but surely depends on each nation and inflation rate of their currency, decline severity can be different, more or less.
With this general unchanged conditions, people will have more demands on finding alternative store of value assets like Bitcoin. Demand increases and Bitcoin price will rise more and higher, there is no doubt about this super bullish future for Bitcoin.
If people want to have long term vision, they need to know this chart and try to stop any short term price predictions.
https://charts.bitbo.io/yearly-candles/