Quote from: Swordsoffreedom on Today at 02:26:03 PM

Quote from: imamusma on Today at 11:43:58 AM

Bitcoin dropped to $110K today, after a temporary reversal following Jerome Powell speech last week. This drop was the lowest since Bitcoin hit a new all time high of $124K, but many remain optimistic that Bitcoin will reach $130K in August.

With less than 5 days left until September and it looks like the bitcoin correction is not over yet, I would be surprised if anyone still believes bitcoin will hit $130k this August.

I see that we may be in a bearish situation in the short term, and reaching $130k by the end of August seems very difficult, but I have hope for a bullish trend even though I am bearish in my thinking.

Quote from: Swordsoffreedom on Today at 02:26:03 PM

Quote from: imamusma on Today at 11:43:58 AM

If the Fed officially cuts interest rates in the future, the market will automatically recover, and it's very realistic that Bitcoin will reach $130K. Meanwhile, I think this decline is also a good opportunity to increase the portfolio size.

If the Fed decides to cut interest rates next September, bitcoin and the entire market will definitely recover and even grow. But whether that growth will last or end as quickly as it has over the past two days remains to be seen. Bitcoin will rally if the Fed cuts interest rates but if whales suddenly dump a large amount of Bitcoin or there is geopolitical instability, that rally won't last. There are many factors that affect bitcoin, not just the Fed's interest rates.

In his previous statement, Powell remained uncertain in his remarks and suggested that interest rate cuts are merely a probability that must be considered, indicating an uncertain decision for September. This suggests that sentiment will first decline before experiencing an uptick, and we may test support below $110k. I simply want to highlight that this trend will persist if Bitcoin can remain above $105k.