In August, Bitcoin could either dip below 60,000 US dollars or climb to 68,000 dollars. This projection was shared with socialbites.ca by Anton Toroptsev, marketing director at the Bitget crypto exchange for the CIS region.
“If optimism prevails, Bitcoin may rebound to the 65,000 to 68,000 dollar range. A more cautious scenario that also accounts for negative factors suggests Bitcoin staying in the 63,000 to 65,000 dollar zone. Yet a negative turn could see Bitcoin slipping under 60,000 dollars,” he explained.
Toroptsev noted that August appears favorable for cryptocurrencies. He pointed to macroeconomic factors supporting the market, including a drop in US inflation to 3 percent, which fuels expectations of quicker monetary easing and a lower key rate. He cited surveys showing many market participants anticipate a rate cut after the US Federal Reserve meets in September. He also mentioned the political climate in the United States, noting that a recent high profile event involving a presidential candidate who has shown support for crypto could influence investor sentiment and potential inflows of funds into the sector. These factors are shaping the current mood in the industry.
Among the headwinds, he highlighted ongoing compensation payments to creditors of the Mt. Gox exchange in connection with its bankruptcy. This development keeps attention on liquidity and risk management in the crypto space, with investors weighing how lenders who hold cryptocurrency might act in the current price environment. While some assets could be offered for sale, such moves would press Bitcoin and may cap its growth trajectory, according to Toroptsev.
He also cautioned against trying to time the market for purchases. Entering at the perfect moment often leads to buying at inopportune times or missing the asset altogether in hopes of a lower price. Instead, he recommended a dollar cost averaging approach, investing fixed amounts at regular intervals to normalize the entry price over time and reduce timing risk.
As of July 19, Bitcoin trading around 63,3 thousand indicated a level near 64,000 dollars, implying a resilient benchmark in the mid-60 thousands range. The momentum observed in late July underscores continued interest from traders and investors who monitor price bands closely and assess guidance from macroeconomic data and policy signals. Analysts continue to track the trajectory of Bitcoin as markets adapt to evolving conditions and regulatory developments across major regions.