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Bitcoin Price Outlook for August: BTC Faces Some Important Tests in the Coming Weeks

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Bitcoin Price Outlook for August: BTC Faces Some Important Tests in the Coming Weeks

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Exactly one month ago today, bitcoin was trading below $20,000 per unit as crypto markets continued to react to growing levels of inflation and central bank policy.

However, a month later, the world’s leading crypto token has moved above $23,000, despite consumer prices rising to multi-decade highs.

BTC now faces some important tests in the coming weeks, with the main one being if it has enough momentum to surge past a key and much higher ceiling of $24,700.


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Article Details

Author / Journalist: Eliman Dambell

Category: Crypto

Topics: Inflation crisis BTC Market Update Bullish Macro Investors Fed Bitcoin Rate hikes RSI Bitcoin (BTC) Risk-off approach Macroeconomic events Trading Key areas Market Updates WTI crude Gold Bearish Long-term outlook Tests Market scenarios Bear Rally Jobs Report

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-08-05, 22:30:49

News Timezone: GMT +8:00

News Source URL: news.bitcoin.com

Language: English

Reading Time: 3 minutes read

Article Length: 449 words

Coverage Area: Japan

Availability: Desktop Web, Mobile Web

News ID: 115995

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About Bitcoin News

Bitcoin News Logo

Main Topics: Crypto

Official Website: news.bitcoin.com

Update Frequency: 15 posts per day

Year Established: 2008

Headquarters: Japan

News Last Updated: 9h ago

Coverage Areas: Japan

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #62

Publisher Details

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