This week was supposed to be volatile due to the FOMC, but things weren't as volatile as I expected. From the current market conditions, the effect of the news will take a few more days to be reflected in the market. I expect 113k to be raided before we see price get to 118k But in a way I feel the market could prove me wrong and head for 118k next without raiding 113k.
What's your take on the current market situation?
I believe it won't head towards $113,000, even though Bitcoin is currently hovering above $115,000. A rebound back towards $118,000 is still quite possible, although there are currently no signs of this happening, as market conditions remain stagnant for Bitcoin. However, volatility will clearly never disappear from the market, and Bitcoin's price always fluctuates due to daily changes in supply and demand. Apart from that, I still think that in the next month the market conditions will be very different from now because at the end of September it should be an opportunity for those who have a lot of money to enter the market.