Bitcoin Price Stagnation To Continue: No Major Rally Expected Before Mid-September

Quick Summary:

With Bitcoin consolidating between the $58,000 and $61,000 price level, cryptocurrency analyst and trader, Bob Loukas in a cautionary statement, has forewarned investors that the price stasis of the crypto asset is likely to remain, noting that no notable rally will take place before the middle of September.

In his post on the X (formerly Twitter) platform, the analyst claims that Bitcoin was flushed out recently and it is still in a huge accumulation zone.

Following a recovery from a broader market crash last week, Bitcoin has been struggling to surpass the $61,000 resistance mark.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: HungaryUnited States

Topics: BTCUSDT Bitcoin Spot Exchange-Traded Funds ETFs Btcusd Bitcoin News Bob Loukas Btc Kaiko Research Bitcoin Accumulation Zone TOBTC

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-15 @ 18:30:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 486 words

Reading Time: 3 minutes read

Sentences: 29 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22088545

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About Bitcoinist

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Official Website: bitcoinist.com

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Year Established: 2014

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News Last Updated: 10 hours ago

Coverage Areas: Hungary

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Publisher ID: #105

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