Analysis: Over the past decade, Bitcoin has only seen price increases in August for three years, potentially entering a consolidation phase due to seasonal disturbances.
BlockBeats News, July 28th: Matrixport's analysis stated, "A month ago, based on contrarian seasonal analysis, we suggested that Bitcoin was expected to rise to $116,000, and now this prediction has been validated by the market. The current market sentiment is gradually turning optimistic, and this week will usher in a series of key events: intensive disclosure of U.S. stock earnings reports, delayed release of the White House's digital asset report, and the Federal Reserve interest rate decision, which may become a new round of catalysts driving market volatility."
However, historical data shows that August and September have historically been relatively weak months for Bitcoin performance. Over the past decade, the average return rate in August has been close to zero, with only three years recording gains. Therefore, many traders often choose to lock in profits at this stage. Although we still maintain a bullish outlook for the year, considering seasonal disturbances, the market may face a tactical consolidation period in the short term."
You may also like
Gainers
Latest Crypto News
Dark Pool DEX HumidiFi will launch its ICO on December 3rd on Jupiter
Eric Trump Debunks: Never Made Statement About Ethereum Surpassing $8,000 in the Next 38 Days
Visa Emerges as Leading Crypto Card Issuer with $3.65 Billion Monthly Transaction Volume
WLFI has spent $7.79 million in the last 5 hours to buy 46.56 million WLFI tokens.
Greeks.live: Short-Term Bottom Formed Based on Overall Options Data, but Volatility Expectations Remain Elevated
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]