Benjamin Cowen expects Bitcoin price to drop 21 percent in August as it has done in pre-halving years in the past.
Increased institutional demand for Bitcoin and its products like the ETF is expected to push the asset above $120k post-halving event next year.
Bitcoin (BTC) continued to flex its muscles against the altcoin market and traditional financial instruments in the past two days despite recording a bearish outlook in July. According to the latest crypto price oracles, Bitcoin dominance had gained about 1 percent in the past five days to the top 50.12 percent on Wednesday. The sudden Bitcoin price gain coincided with a distressed DeFi lending market after Curve Finance and AAVE protocols were entangled in a liquidity crisis.
Notably, Curve Finance founder Michael Egorov took a loan of $60 million worth of USDT on AAVE protocol and issued 300 million CRV tokens as collateral, and now risks liquidation if the CRV price drops below 37 cents. However, the horrible news is that the C

Czytaj więcej

We współpracy z: https://www.crypto-news-flash.com/bitcoin-btc-faces-worrying-august-pattern-is-it-doomed-top-analyst-weighs-in/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-btc-faces-worrying-august-pattern-is-it-doomed-top-analyst-weighs-in