In August, the Bitcoin exchange rate may either fall below $60,000 or rise to $68,000. This forecast was given to socialbites.ca by Anton Toroptsev, marketing director of the Bitget crypto exchange in the CIS.
“If the situation develops according to an optimistic scenario, Bitcoin could return to the $65-68 thousand range. A moderate scenario that also takes into account negative factors assumes that Bitcoin will remain at $63-65. However, if a negative scenario develops, we could see Bitcoin return below $60 thousand,” he said.
According to him, August now looks quite positive for cryptocurrencies. Toroptsev explained that the crypto market is supported by macroeconomic factors: the decline in inflation rates to 3% in the US gives hope for a faster easing of monetary policy and a decrease in the key interest rate. The expert cited surveys showing that the majority of market participants expect a reduction in interest rates after the US Federal Reserve meeting in September. Toroptsev added that the recent assassination attempt against Donald Trump, who claims to support the crypto industry, increases the likelihood of his victory in the US presidential elections to be held in the fall, and this also increases the hopes of crypto investors for money to flow into the country. Industry.
Among the negative factors, the expert noted the ongoing compensation payments to creditors of the MtGox crypto exchange in connection with the bankruptcy.
“Investors increasingly expect that lenders who buy cryptocurrencies are unlikely to sell them at current prices. Although some of the coins he listed may be offered for sale, this will also put pressure on the Bitcoin exchange rate and limit its growth rate,” Toroptsev said.
According to him, there is no need to try to guess the most suitable moment when buying a cryptocurrency, because most often this strategy leads to the investor either buying at the most inopportune moment, or not buying the asset at all, hoping that it will become even cheaper, but this is not the case. The expert said that if you want to invest in cryptocurrencies, it is best to choose an average cost strategy, which involves buying an asset in equal shares at regular intervals, which will allow you to calculate the cost of entry on average.
According to OKH, on July 19, Bitcoin was trading in the $63.3 range, meaning it was above $64,000.
Bitcoin rate before He jumped up After the assassination attempt on Trump.