It’s been a volatile few months for Bitcoin, with the price action swinging from $17,000 to below $19,775 at the time of writing. So, what’s happening with the bitcoin price? Is it going down or are we heading to the moon before Christmas?
There are a few things to consider when trying to answer this question. First, let’s look at the overall trend since Bitcoin’s inception. Although there have been a few bumps along the way, the general trend has been upwards. So, it’s possible that the current dip is just a normal part of the market cycle and that we’ll see the price rebound in the future.
The Bitcoin price has been undecided in recent months, staying above 17000 dollars the price has not been able to get above 25000.
A few factors could contribute to a rise in the Bitcoin price. First, there is the general trend of increasing interest in cryptocurrencies. As more people learn about Bitcoin and invest in it, the price will likely rise with the supply-demand ratio. Second, there is the fact that several major corporations have started to invest in Bitcoin ie Black Rock, which adds to the demand for the currency. Lastly, there is the possibility that the Bitcoin price could be driven up by speculators who think the price will continue to rise in the short term.
The current trend for the bitcoin price is going down. This is due to several factors, including the recent return of the US dollar, which has made bitcoin less attractive to investors.
In conclusion, the next FOMC meeting could have a significant impact on the price of Bitcoin in September. If the meeting leads to an increase in interest rates, the price of Bitcoin will likely increase as well. However, if the meeting does not increase interest rates, the price of Bitcoin is likely to remain stable.