Recently, the price of Bitcoin has been fluctuating at a high level without significant increases or decreases.
Everyone is waiting to see if the upcoming economic data will provide more clarity.
I think if the Federal Reserve really starts to cut interest rates in September, the cryptocurrency market is likely to heat up again, and prices will rise.
But before that, the market is expected to be relatively cautious, and prices may adjust, but the overall decline should not be too large.
Conversely, if there are no interest rate cuts in September, the situation may not be very good.
Another thing to note is that August has arrived. At this time every year, many traders in Europe and America go on vacation.
Over the past 7 years, Bitcoin and Ethereum, the two major cryptocurrencies, have seen a decline in 5 out of those 7 Augusts. So, when trading in August, one still needs to be cautious and not take too many risks.
