Very bad news for BTC holders. BTC price is not moving upwards in August 2018. Looks like the rest of the days of August will be in downtrends for BTC price chart. The red is dominating green for all altcoins. Looks like another panic month for longtime holders.
As it has been mentioned as long term holders by OP,there is nothing bad news for them as they actually don't bother short term fluctuations.It would be bad news only for day traders who would find it difficult to make profit as price fluctuations were their main source to make profit.
Well at the end of the day the day traders would not really mind because in my opinion they are aware that the market is in a bearish movement right now and many of them are not really engaging that much with a day trade with bitcoin, Maybe there are some traders that will make a trade, And that traders are a hopeful ones that think the fluctuation would surely move their way, I really think day traders would not be bother by it at all.