$BTC still has a chance to set a new historical maximum and reach $160,000 by the end of 2025, despite the price drop in August. This forecast was made by network economist Timothy Peterson, referring to historical data on the price dynamics of the first cryptocurrency in the fourth quarter. The current price decline is explained by the classic 'September weakness' of Bitcoin.
The market situation remains volatile. On the night of August 14, Bitcoin broke $124,000 and set a new historical maximum. Investor Willy Woo then called the first cryptocurrency 'the perfect asset for the next thousand years,' but warned that it would not be able to compete with the US dollar or gold without massive investments.
By August 26, the price of Bitcoin had fallen to $108,666, causing liquidations amounting to approximately $941 million.