Bitcoin - Review from 29.08.2024

The price of bitcoin continues to hold within a range, above the support zone, which is located around the $58000 mark and below. Meanwhile, local price declines continue to provoke purchases by major participants. In particular, after a wave of impulsive sales, which lowered the market to quotes below the level of $60000, analysts recorded the purchase of the asset by a large participant, for a sum of about $60 million or 1000 bitcoins.

As the market continues to hold at current levels or even a little lower, the likelihood of a resumption of price growth will increase. Nonetheless, when considering purchases, it is necessary to remember the risks, as circumstances can always change.