Bitcoin may continue moving in the range of $62,000-$67,000 in the early part of the second half of August, with periodic attempts to break beyond these limits. This was stated to Izvestia on August 14th by financial analyst at Bitbanker, Vladimir Zernov.
"In the first half of August, Bitcoin managed to strengthen slightly, but largely remained within the established trading range of the last month. In the absence of strong drivers, investors focused on economic statistics from the USA. The labor market report turned out to be noticeably worse than expected, sharply reducing the likelihood of an interest rate hike at the next Fed meeting in September," said the expert.
According to him, an additional positive factor was the US inflation data for July. The slowdown in price growth strengthened market participants' belief in the possible easing of the American regulator's policy, which usually supports risk assets, including Bitcoin.
However, Zernov noted, investors also received a negative signal: consideration of the Clarity Act bill in the US, which is intended to increase regulatory certainty for the cryptocurrency market and potentially attract more institutional investment, was postponed until autumn.
In the second half of August, activity in financial markets traditionally decreases due to reduced liquidity. Under such conditions, Bitcoin may find it more difficult to demonstrate sustained upward movement without the emergence of additional drivers.
At the same time, low liquidity increases the likelihood of sharp fluctuations in the cryptocurrency's price. According to the analyst, even positive expectations surrounding the Fed's policy may be insufficient for strong growth, as many market participants prefer to wait until September.
The expert added that the further dynamics of the cryptocurrency will depend on new economic data, the decisions of the American regulator, and the situation regarding the regulation of digital assets.
Deputy Finance Minister Ivan Chebeskov reported on June 16th that unqualified investors in Russia will soon be able to legally purchase Bitcoin, Ethereum, and popular stablecoins. Furthermore, he clarified that a limit of 300,000 rubles per year through one intermediary has been proposed for "non-qualified" investors.
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