Re: What do you think of the current bitcoin price recovery?
And if I may forcast the month ahead, I will say that it is going to be filled with more positive price movements, and whatever bitcoin have failed to achieve on the month of August will be corrected in the coming month and if care is not taken, bitcoin could go above teb extimate price of 70,000 in September.
It's not likely we're moving back to the 70k in september. I expect a small recovery to happen in the upcoming month, but we may also get another dump. Some news says there will be a rate cut in September. But, it is unlikely to have much impact on the crypto.
Bitcoin rarely does well in September, and this has happened many times. It makes me pessimistic to say we're going green soon. I expect we may be dumping to the 55k before we'll get major run toward 70k.
Also, US stock market is not looking good now. I expect a small correction to occur very soon. And we may be facing bullrun to start in October till december. However, my prediction may not happen. I only speculate based on the data we have from before.