The start of August has been quite financially positive for some cryptocurrencies. But this is not the case for Bitcoin. In matter of fact, between July 30th and August 3rd, BTC price fell by over $100.
By the end of July, the BTC price was ranging on the reletively steady $650s level. But, the beginning of August up until August 3rd, the price emerged a new low level down to $531 per each bitcoin. And only afterwards the price began to slowly increase to today’s (August 5) levels of around $570. What could be the reason for all this? While the cause and effect is not the main intention of the article, traders/investors in bitcoin should still do some additional research to become familiar with what could be behind these recent price fluctuations. Once the reasons would be acknowledged, it would be easier to make further speculative guesses to when is the best time to buy and sell this volatile internationally most popular crypto.