From the monthly chart of Bitcoin, market sentiment remains optimistic. We are currently in the fifth month of a strong upward trend, and historical data shows that a major bull run is usually accompanied by continuous rises for 6 months or even longer.



It is worth noting that the interest rate cut cycle that is about to begin in September may inject new momentum into this bull run, likely extending the market's rise. This means that even if the current rising trend only has two months left, we may witness the most intense price fluctuations.

Looking back at past rises, we have seen single-month gains reach as high as 65% or even 90%. If we apply this data to the current situation, we can speculate that the Bitcoin price could reach approximately $189,750 (based on 65%) or $218,500 (based on 90%). Therefore, the possibility of Bitcoin breaking through the $200,000 barrier cannot be ignored.

However, investors should keep in mind that the cryptocurrency market is highly volatile and carries significant risks. While technical analysis and historical patterns can provide some insights, market trends are influenced by various factors, making precise predictions difficult. It is advisable to conduct thorough research and risk assessment before making any investment decisions.
BTC-0.22%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
0/400
DYORMastervip
· 08-10 14:44
Enter a position and it's done!
View OriginalReply0
BridgeTrustFundvip
· 08-10 14:39
Steady, let's go in one wave.
View OriginalReply0
StablecoinGuardianvip
· 08-10 14:30
Don't panic, just hodl and it will be fine.
View OriginalReply0
FUD_Whisperervip
· 08-10 14:27
Just go for BTC and that's it.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)