Bitcoin Closes Weekly Below $26K. Rektember Could See the Bitcoin Price Fall Towards $20K.
It's time to keep a cool head.
On August 24, I told you that even though the Bitcoin price seemed to be holding on to $26K, I saw 5 reasons for a drop in the Bitcoin price to lower zones:
Grayscale's success in its lawsuit against the SEC enabled it to postpone the deadline, with the price of Bitcoin exceeding $28K for a few hours. For me, this marked the umpteenth victory of the BCA (Bitcoin-Cost Averaging) strategy over technical analysis and so-called Bitcoin Trading experts:
The lack of volume at this price level ultimately condemned the price of Bitcoin to fall back towards $26K when the SEC announced it was giving itself more time to respond to requests for Bitcoin spot ETFs from global financial giants such as BlackRock and Fidelity.
The price of Bitcoin finally closed last week below $26K at $25,975:
