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Market expert sets Bitcoin price for August 2024

Market expert sets Bitcoin price for August 2024
As Bitcoin benefits from the euphoria around the latest US inflation data, technical indicators suggest Bitcoin is facing a new record high.

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Bitcoin is once again on the verge of setting a new record as it breaches the $65,000 resistance mark. Technical indicators suggest that the cryptocurrency is poised for a new all-time high, with experts predicting a target of $150,000 by August. The recent 25% correction is seen as normal within bull cycles, and Bitcoin's upward trajectory seems promising. The latest inflation figures have sparked renewed interest in BTC, with the core inflation rate falling to its lowest level in three years. As of now, Bitcoin is trading at $66,270 with daily gains of almost 6%, and is expected to reach the $70,000 mark en route to a new all-time high. This positive market sentiment is also expected to benefit altcoins significantly. However, it's important to note that investing in Bitcoin is speculative and comes with risks.