As a seasoned crypto investor with over a decade of experience navigating the digital asset markets, I find Bob Loukas’ analysis both insightful and cautious. His unbiased approach to market assessment is refreshing, as it provides valuable insights that are not clouded by hype or personal bias.
Bitcoin has been holding steady within the range of $58,000 and $61,000, according to cryptocurrency analyst and trader Bob Loukas. He cautions investors that this price stability may persist, suggesting that a significant rally is unlikely before mid-September.
Lukas, known for his impartial market analysis, shared his views on Bitcoin’s current price trend following numerous inquiries from the cryptocurrency community regarding his thoughts on the coin’s direction.
Bitcoin To See A Major Upward Movement Next Month
After bouncing back from a market downturn, Bitcoin has been finding it tough to break through the $61,000 ceiling. According to crypto analyst, Bob Loukas, this could signal a significant upward trend following mid-September, hinting at an extended phase of price stabilization.
Loukas foresees this development due to the persisting unease and apprehension within the broader market, leading ordinary investors to sell off their Bitcoin holdings in an attempt to minimize potential losses, as Bitcoin’s value has fallen below $60,000 yet again.
On the ex-Twitter platform, the analyst stated that Bitcoin experienced a significant sell-off lately and currently resides within a massive accumulation phase. Yet, he advises investors to remain cautious, as they should not expect a bull run before at least mid-September.
It’s plausible that the bulls might need to endure until the weekly cycle low, which occurs approximately every 9 months around December. This prediction from the crypto expert suggests that the bulls could face a challenging period and there may be unexpected developments as spot Bitcoin ETF holders are put to the test.
The expert also pointed out that significant dips could cast uncertainty on the ongoing bull market. However, by this point, it might be past due for action. Yet, the analyst remains confident that the peak of the 4-year cycle will still materialize in mid to late 2025, predicting Bitcoin’s price could surge to around $100,000 or more at that time.
“He mentioned that this helps him stay mentally sound, and he’s not concerned with the elections. Therefore, he advised investors to exhibit patience and have faith in Bitcoin’s ability to generate substantial profits in the future.”
BTC Faces Heightened Price Swings
It appears that investors’ apprehension and anxiety have grown considerably as Bitcoin experiences substantial price fluctuations consistently. As per TOBTC, a trading platform, Bitcoin becomes increasingly susceptible to significant price volatility over weekends due to the accumulated liquidity during the workweek, especially with the advent of BTC spot ETFs in the U.S. market.
Based on Kaiko Research findings, TOBTC suggests that excessive price fluctuations in BTC could lead to significantly higher market volatility over weekends, as demonstrated by the recent August 5 sell-off. Additionally, with growing institutional and ETF involvement, the risk of sell-offs is heightened due to reduced weekend trading activity.
Read More
- ENA PREDICTION. ENA cryptocurrency
- USD PHP PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- SHIB PREDICTION. SHIB cryptocurrency
- USD COP PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- Red Dead Redemption: Undead Nightmare – Where To Find Sasquatch
- USD ZAR PREDICTION
- Every Obsidian Entertainment Game, Ranked
2024-08-15 21:49