What’s happening to Bitcoin and how much will it cost?

🔊 Latest market news: what’s happening with Bitcoin?

🌡️ Shocking reality – Bitcoin is leaving the market? The rate of digital gold is declining at a tremendous speed, and latest news on the topic, what’s going on with bitcoin, worried many investors. Many users actively began to buy the coin at a favorable price, seeing the prospect, but the price continued to decline.

⚡ What is this connected with, what Today There is reasons for the fall of bitcoin and how to protect your savings from asset drawdown – today we’ll figure it out together with our experts.

📉 What is the reason for the sharp drop in Bitcoin in 2024?? Reasons for the fall of Bitcoin in August 2024

Since the beginning of 2024, BTC has shown active growth and even managed to record a new all-time high. In March, the price of Bitcoin exceeded $70,000. Since then, the cost has fluctuated between 60 and 70 thousand dollars. But in the summer of 2024, in particular in August, the BTC rate fell sharply and lost tens of percent, right up to positions of about $50,000 per token. This rate turned out to be the lowest this year, which began to cause concern among investors.

Many investors began to sell off their crypto-assets in panic; some experienced liquidations for impressive amounts. The fear index began to rise.

But the BTC drawdown is quite pragmatic in nature and is not something anomalous.

Today, crypto market experts identify the following main reasons: Bitcoin fall in August 2024:

1. ⭕ Cooling interest in spot ETFs. This state of affairs reduces the interest of large companies in buying Bitcoin, which, accordingly, negatively affects its price.
2. ⭕ Start of payments for the bankrupt Japanese crypto exchange MtCox. Since a significant amount of BTC can be returned to the market, the fluctuation in the price of this coin is quite natural.
3. ⭕ Transfer and sale of confiscated Bitcoin assets by governments of different countries. Any movement in the market plays a role, and especially when funds are withdrawn from exchanges and stored somewhere in cold wallets.
4. ⭕ Hostile attitude towards crypto by some individuals from the SEC Securities Commission. The regulator has significantly battered Ripple, but other cryptocurrencies, including BTC, are also affected by this in the form of a decrease in value.
5. ⭕ The general decline in the stock market and the caution of large investors during this period. After the wave of activity and rally in the crypto market before halving, it is natural that the whales have reduced their ardor, and this directly affects the price of the cue ball and is the result of its collapse.
6. ⭕ Aggravation of the geopolitical situation in the world. The sharp withdrawal of its assets, the sale of bitcoins due to conflicts in the world and converting them into fiat makes the Cruz fluctuate downwards.

👉 The activity of large investors, the so-called whales, also has a significant impact on the price of bitcoin. And they haven’t shown any action lately. This also worries small investors who believe that the asset is no longer of interest to large players. Because of this, the capitalization of the coin has decreased slightly, which also does not allow the price to recover sharply, so it is observed cue ball drop in august 2024.

💰 Impact of Bitcoin halving on its market value

We cannot ignore the most important event of 2024 – the Bitcoin halving that took place on April 20. Now the reward to miners for a mined block has been halved and is only a little more than 1.5 BTC.

This state of affairs directly affects the price of the cue ball. So, if the demand for it remains unchanged, then a halving of the mined coins should provoke an increase in the price for the token. The crypto community knows the approximate date of each halving and prepares for this event by purchasing and trading Bitcoin with particular enthusiasm. This is exactly what was observed in early 2024, when a new all-time high for BTC was seen. And after the reduction in the reward for the mined block, interest in Bitcoin decreased somewhat. This happened in previous halving years.

♻️ Now, judging by the experience of past years, BTC simply succumbed to correction and is showing volatility. Based on the past, the price of Bitcoin may rise six months after the halving, but the exact period is difficult to predict.

🌕 Bitcoin price forecast for August 2024: How will BTC change?

The current situation with fluctuations in the BTC price chart is not characterized by anything serious and is seen as a completely natural and temporary phenomenon. This is how most leading cryptanalysts characterize it. Their attitude towards the coin’s rate is optimistic, especially when considering investments in Bitcoin for the long term.

Already this year, starting in the fall, many experts predict a recovery in the BTC rate and its increase, up to a new historical maximum. This can be especially affected by the following factors:

• 🌜 Completion of payments by bankrupt exchange MtCox. 
• 🌜 Loyal attitude towards the cryptocurrency sector by national governments, in particular the results of the US elections.
• 🌜 Successful stabilization of regulation of the cryptocurrency sector.
• 🌜 Stabilization of geopolitics.
• 🌜 The halving has taken place and the traditional expectation of an increase in the price of Bitcoin after a while.

A positive combination of circumstances can provoke whales to activity and small investors will follow them, capitalizing the cue ball to new heights.

In the near future, improvements are expected in the technical aspect and the introduction of various innovations in blockchain systems. This could also encourage people to invest in Bitcoin.

🧐 To better understand BTC prediction on August 2024, and also in general, how to make money on bitcoin, read our website and pay attention to the release of new materials in time.

💱 Opinions of world analysts on the price of Bitcoin in 2024

There are fewer negative attitudes towards the Bitcoin exchange rate than positive opinions. Thus, EMCD PR Director Mike Lvov does not believe that the price of the cue ball will recover in the near future.

Leading cryptoanalyst of the StormGain trading platform Dmitry Noskov, on the contrary, believes that since the futures market is slowly returning to a normal state of affairs, the index of fear and greed will also retreat from the price of Bitcoin.

Ryan Lee, an expert on the BitGet exchange, expressed the opinion that liquidity in the cryptocurrency market will soon increase and, accordingly, the Bitcoin rate will stabilize with a return to the upper limits and even growth, up to $100,000 per 1 BTC.

🟩 Already these reviews and opinions make it clear that the market sentiment is more aimed at an optimistic bullish scenario for Bitcoin in 2024.

💼 Is it worth investing in BTC in 2024?

Of course, investing in Bitcoin in 2024 is still as promising as before. At the same time, the risks also remain. Here’s what’s important to consider when deciding whether to invest in BTC this year:

1. ☑️ Bitcoin is a great salvation from inflation. It’s not for nothing that even the author of the famous book “Rich Dad Poor Dad,” Robert Kiyosaki, regularly advocates for the community to buy “digital gold”, that is, cue ball, along with gold and silver.
2. ☑️ Limitation of the number of BTC coins and the halving that took place. All this can provoke a feeling of scarcity, which means an increase in demand and, accordingly, prices.
3. ☑️ Many institutional clients regularly purchase Bitcoin. Large corporations and even governments of various countries are actively investing in BTC, replenishing their reserves with it. The more such “whales” there are on the market, the higher the cost may be.
4. ☑️ Recognition of Bitcoin by many famous people. The factor of recognition and popularization can also play an important role in raising the exchange rate.
5. ☑️ Favorable decisions in the field of cryptocurrency regulation. This factor may be one of the decisive factors for a serious Bitcoin rally in 2024 and subsequent years.

At the same time, it is imperative to take into account risks, such as volatility, the geopolitical situation in the world, the economic crisis, etc. Only by reducing all possible nuances to a minimum through the competent collection of your investment portfolio can you count on success as an inverter into Bitcoin in 2024.

🥰 Need help?

If you do not quite understand how to behave correctly with Bitcoin in 2024, building the correct chain of actions, contact our crypto specialists. After all, entering the market on time and exiting it on time are fundamental factors for success. With professional support, a feeling of confidence will definitely push you towards profit.