Bitcoin fell a bit in price, but analysts promise kryptolites a tumultuous August

Bitcoin fell a bit in price, but analysts promise kryptolites a tumultuous August

Bitcoin fell on Monday's price by 2.4% to $23,247 after rising on Saturday to the highest level since June 13, which was $24,658.

Ethereum's price also declined during the weekend after the coin's price jumped by 70% in July, the largest increase since January 2021.

Bitcoin fell below the $2,000 mark at the end of June–early July, against the background of concerns about the Federal Reserve's rate increases due to high inflation, as well as the collapse of a number of market participants, such as the Three Arrows Capital hedge fund.

- it's projected by Anthony Trenchev, co-founder and managing partner of Nexo's Krypto Creditor.

He suggested, however, that in August it would occur instead of following an increase in the Federal Reserve rate and reports of a continuing second quarter of a collapse of the US economy.

The cost of bitcoin is still far from the record level achieved in November last year, but it has begun to demonstrate resilience in the face of complex economic indicators and monetary tightening.

" was noted by Edward Moya, Oanda's senior market analyst.