We saw the Bitcoin price increase the most last July, and it created a new ATH, where the Bitcoin price entered $123k, the highest in Bitcoin history. We then saw a big drop in Bitcoin where the Bitcoin price came down from $123k to $112k, although the market has entered a little higher at the moment and is currently at $114k.
So I guess that maybe the Bitcoin price is more likely to enter $130k by this August, what are your thoughts?
In few days we will already be in mid August and bitcoin still struggles to get back at $120k so it's somehow doubt able that bitcoin will make it to $130k by the end of this month and the news around alongside the market conditions isn't such that is suggesting any reason for us to be hopeful about any changes happen within the month, although I still believe it is possible but going by the current happenings it doesn't seem like it.
Most likely it's because there could be some liquidation at $120k. And it's normal though, not everyone holds Bitcoin for long term. There are short day traders in the market as well and will squeeze some profit when they can.
It may recover to $120k and possibly hit $125k again but I am having it difficult to see it hit $130k within August but by next month or before the year runs out, it is possible it can happen but within August still remains inn doubt for me.
It's hard to say, when there is a big news, then obviously, it's hard to stop the market from reaching new price level. Just like the $120k, almost everyone is saying that we are in a ghost month and yet August proved them wrong as we already hits $120k and in the last 2 weeks there could still be some to reach that price or even go higher and touch that big barrier of $130k.