Three Factors That May Fuel a Significant Bitcoin (BTC) Surge in August

Bitcoin (BTC) may experience a significant surge in August due to three primary factors, despite currently trading below its all-time high of over $123,000. Historically, BTC has ended August with profits, specifically after a halving year, and with the latest halving occurring in 2024, this month may follow suit.

The potential US interest rate cut, which has spiked to an 80% chance in September, could also fuel BTC's momentum as lower rates usually encourage riskier investments like cryptocurrencies. Lastly, BTC's MVRV ratio, an indicator of whether the asset is undervalued or overvalued, has been within a healthy range of 2.2 to 2.4 over the past month, suggesting more room for growth. Analysts predict BTC may enter its "thrill" and "euphoria" phases, potentially leading to a rally above $200,000.