Bitcoin is down again

The start of August month is something that doesn't seem to be good for the Bitcoin price. I say this because we can see a price drop in Bitcoin price in the last couple of days and now it is trading at around 63K US dollars from this price range we might go below 60K or we might also go upside to 70K. It's hard to predict this time because we don't know how things are going to be in the market in the current scenario but if you talk about the long term then there is nothing to worry about.

Usually, there can be situations of greed and fear mostly in the short term but the long-term objective remains the same and even now when we are not sure about the current situation in the market then also the one-year goal is surely on the higher side. there is no doubt that we are going to see a significant price rise in Bitcoin in the next year and it will not be a surprise if it crosses 100K.

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Have a look at the price chart for Bitcoin shown above and you can see that the price isn't a downtrend as of now but it is not so down that we need to worry about the south if things go well then probably we can see some spike from here. Michael's strategy has purchased another bunch from the market which clearly shows that whales are trying to accumulate more Bitcoin from the market and maybe the current situation of price drop is slightly manipulated.

Generally when reals are targeting the market for buying then they try to create the FUD and that is why they can also get the Bitcoin at a lower price which is what they want. I'm not sure about this uncertainty in the market in the current scenario but if such big whales and companies are buying Bitcoin then I am quite confident that the price is not going to stay here for too long and it is just a matter of time so yes Bitcoin is down again but in my opinion it is not going to stay here for long.

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