The analyst predicted the movement of bitcoin to $ 67 thousand in the second half of August.
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- The analyst predicted the movement of bitcoin to $ 67 thousand in the second half of August.
At the beginning of the second half of August, bitcoin may continue to move in the range of $ 62-67 thousand with periodic attempts to go beyond it. Vladimir Zernov, a financial analyst at Bitbanker, told Izvestia on August 14.
"In the first half of August, bitcoin was able to strengthen slightly, but by and large remained within the established trading range over the past month. In the absence of strong drivers, investors were paying attention to economic statistics from the United States. The labor market report turned out to be noticeably worse than expected, which sharply reduced the likelihood of an interest rate hike at the next Fed meeting in September," the expert said.
According to him, an additional positive factor was the data on inflation in the United States for July. The slowdown in price growth has strengthened the opinion of market participants about a possible easing of the policy of the American regulator, which usually supports risky assets, including bitcoin.
However, Zernov noted, investors also received a negative signal: consideration of the Clarity Act bill in the United States, which should increase the certainty of regulating the cryptocurrency market and potentially attract more institutional investments, was postponed to the fall.
In the second half of August, activity in the financial markets traditionally decreases due to a decrease in liquidity. In such circumstances, it may be more difficult for bitcoin to demonstrate a steady upward movement without additional drivers.
At the same time, low liquidity increases the likelihood of sharp fluctuations in the value of cryptocurrencies. According to the analyst, even positive expectations around the Fed's policy may not be enough for strong growth, as many market participants prefer to wait until September.
The expert added that the further dynamics of the cryptocurrency will depend on new economic data, decisions of the American regulator and the situation with the regulation of digital assets.
Deputy Finance Minister Ivan Chebeskov announced on June 16 that unqualified investors in Russia will soon be able to legally buy bitcoin, ether and popular stablecoins. In addition, he clarified that a limit of 300 thousand rubles per year through one intermediary was proposed for non-shareholders.
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