Bitcoin Relished Its Best Month In July 2022 – How Will BTC Perform This August?
Bitcoin had a blast in July, along with major cryptocurrencies which achieved their best production in the last month. During the month of July, Bitcoin grew by around a quarter and briefly touching the elusive $24,000 mark, while Ethereum grew by close to 50 percent and traded for around $1,700. Despite the Federal Reserve’s decision to raise […]
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The price of bitcoin has had an eventful start to the month of August, and it doesn’t look like it will be stopping anytime soon. Mostly, it is the residual effects of what happened in the markets during the month of July, where the price of bitcoin had actually broken above $24,000. In the same vein, the institutional inflows have a lot to say about bitcoin, especially when it comes to how big money is looking at the digital asset. Bitcoin Inflows Grow Strong Bitcoin inflows for the month of July had actually maintained a steady uptrend. The digital asset was able to receive another $85....
While Nigeria’s year-on-year inflation rose for the seventh straight month to 20.52% in August 2022, the latest data from Nigeria’s National Bureau of Statistics shows that the month-on-month rate declined from 1.82% to 1.77% during the same period. The depreciation of the local currency, disruptions in the supply of food products, and an increase in the costs of production are said to be the factors behind the latest increase.
Currency Depreciation Driving Inflation
According to the latest data from Nigeria’s National Bureau of Statistics (NBS), the West....
August figures released by Brazil's tax authority revealed over 12,000 companies have cryptocurrency holdings, the largest amount ever recorded. The number of companies holding cryptocurrency in Brazil has reached new record highs as of August, amid an increased trust in cryptocurrencies and high inflation rates.According to local media reports, the country’s taxation authority, Receita Federal do Brasil (RFB), also known as the Federal Revenue of Brazil, recorded 12,053 unique organizations declaring crypto on their balance sheets in August 2022.The number is a 6.1% increase from the....
Benjamin Cowen, an analyst and founder of Into The Cryptoverse, thinks Bitcoin will likely maintain a downside trajectory in September ahead of next year’s halving. Pointing to the coin’s performance and comparing it to how Bitcoin has faired over the years, the analyst predicts doom for the world’s most valuable cryptocurrency. Bitcoin is trading at around $25,860 and has remained under pressure in the past few weeks after surging almost 60% from November 2022 lows, when the drop was accelerated by the collapse of FTX and the bankruptcy of several centralized finance....
The relatively good times could continue next month, one prediction says after July manages to reverse the worst of the 2022 crypto downturn. Bitcoin (BTC) dropped volatility on the last weekend of July as the monthly close drew near.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView200-week moving average in focus for July closeData from Cointelegraph Markets Pro and TradingView showed BTC/USD retaining $24,000 as resistance into July 30.The pair had benefitted from macro tailwinds across risk assets in the second half of the week, these including a flush finish for United States....