August Monthly Recap: Traders Tired of Waiting While Whale Bags are Inflating
The price saga of crypto markets in August was filled with rollercoaster swings, one giant dip at the beginning of the month, and any semblance of a potentially rally getting cut short. As a result, traders have become noticeably more apathetic toward markets and crypto in general. And as we have said many times, frustration and impatience often correlates with market bottoms because prices historically move the opposite direction of the crowd's expectations.
As we can see, Bitcoin is down slightly over the past 30 days. This unsurprisingly has led to the majority of assets sliding (more agressively than BTC) during this same timespan. At the time of this writing (September 2nd), BTC's market value sits at $58.5K and ETH is at $2,520. Noticeably down from July's market closes of $65.3K and $3,100, respectively.
But as usual, there have been
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