Bitcoin continues to consolidate around the $21,000 level.
On-chain indicators indicate a likely recovery of BTC. The CoinMarketCap community predicts the price of bitcoin at $ 29.00.
Bitcoin rose 1.4% on Tuesday, ending the day around $21,500 amid a slowdown in the decline of stock indexes and a weakening dollar. BTC has been consolidating in a narrow sideways range above the $21,000 level for several days.
However, the crypto community CoinMarketCap believes exclusively in the best, believing that by the end of September bitcoin will add Z6.75% relative to the current value and will trade at about $29 Z46.
Meltem Demirors, Director of Strategy at CoinShares, believes that strong changes in the crypto market should not be expected until the end of September, since investors do not trade actively during the holiday season.
In recent months, the cryptocurrency market has been under pressure, however, according to Bakkt CEO Gavin Michael, bitcoin has permanently entrenched itself in the financial system.
According to Anthony Scaramucci, CEO of SkyBridge Capital, bitcoin cannot yet act as an asset for hedging inflation, since the adoption of the first cryptocurrency is not enough.
Bitcoin may become one of the main consumers of electricity in the world by 2040, Arcane Research claims in its report.
Billionaire and crypto investor Mark Cuban criticized the U.S. Securities and Exchange Commission (SEC) for the lack of clear rules to regulate the industry for many years.
The developers of the Dogecoin Foundation announced that the Doge-ETH bridge will be launched by the end of the year, which will allow moving DOGE from the Dogecoin blockchain to the Ethereum network and back.