August has often been rough on btc. One of the reasons, I think, is that Europe is pretty much on vacation this month. Just enough active traders are gone which reduces the demand. Also many might be dumping to pay for their summer vacations as well.
I've seen it (a long time ago now) drop to 1/3 of its value over the course of August. Now, it came roaring back so much so that by December it was 6x what it had been in August. Then it slid, slowly, after that, with some jumps up until August again and then...
I'd say hold this month to wait and see.
And, yeah, I think $5k is a strong possibility by the end of the month.
We'll see though. All of this is worth as much as all y'all paid for it. ;)
I'd prefer it didn't either, but...
August has often been rough on btc. One of the reasons, I think, is that Europe is pretty much on vacation this month. Just enough active traders are gone which reduces the demand. Also many might be dumping to pay for their summer vacations as well.
I've seen it (a long time ago now) drop to 1/3 of its value over the course of August. Now, it came roaring back so much so that by December it was 6x what it had been in August. Then it slid, slowly, after that, with some jumps up until August again and then...
I'd say hold this month to wait and see.
And, yeah, I think $5k is a strong possibility by the end of the month.
We'll see though. All of this is worth as much as all y'all paid for it. ;)
I do think it will even go lower with the econimic problems coming up.
It might. I won't claim to be a seer. However, I suspect people will start coming back in September once the vacation season is over in Europe.