Bitcoin’s rebound off $28,701 on Aug. 7 reveals that decrease ranges proceed to draw consumers. The restoration has stored the worth caught contained in the vary as merchants await the beginning of a brand new trending transfer. A latest report by ARK Make investments says that “Bitcoin’s volatility dropped to a 6-year low throughout July.”
Merchants who anticipated a powerful transfer in both path have been disillusioned by the ongoing range-bound motion in August. If historical past repeats itself, then August and September could become washout months, as their common strikes have been 0.73% and -5.01%, respectively.
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