during the past week bitcoin prices passed from $4,000 range $3,600 on , but from August 21. Bitcoin market's started to Recover again and now Bitcoin is traded around $4,240 at the time of writing.
Last week bitcoin has managed to lose his fiat value bitcoin' fiat value down to the $3,600 range as many Traders took in some solid profits from the recent surge of the price at 4500 USD. Now Bitcoin show a great resistance line at the level of 4300 USD, if it's break this level , he will be traded between 4300 USD and 4500 USD,.
The reasons why this scenario will happen , because all the indicator push the bitcoin to reach a new all time high price. we are at the end of August,.
It is the beginning of a new financial year , new investments will come into the crypto world, and this will increase the demand on bitcoin.
traders have understand that BCH is a volatile market,so they have sold their bch to trade more Btc and other altcoins,so this has increase BTC trade volume and at the same time, this has increase the demand on bitcoin.
Bitcoin is now accepted more and more as a payment methode.there is a lots of factors that will push bitcoin to reach a new all time high during the next month , i can't write all this factors in this article , if you have any other opinion left a comment on our article