Prediction: This Will Be Bitcoin's Next Big Move

Even after a steep plunge earlier in August, Bitcoin (CRYPTO: BTC) is still up almost 40% for the year. That's the good news. The bad news is that Bitcoin recently dipped below $60,000 again, and shows few, if any, signs of rebounding anytime soon. During the past 30 days, Bitcoin is down 11%. In fact, August is shaping up to be Bitcoin's worst month since April.But I think many of the fears of the Bitcoin bears may be overstated. In fact, I'm predicting that the next big move for Bitcoin will be a rebound to $100,000 by year-end.As a first step, it's important to figure out why Bitcoin has been falling. The best explanation, from my perspective, is that inflows into the new spot Bitcoin exchange-traded funds (ETFs) are slowing, and that's putting a brake on any upward Bitcoin price action. Since the launch of the new spot ETFs in January, the steady inflow of new money into Bitcoin is what has pushed up prices. So if these inflows dry up, then it makes sense that Bitcoin is going to trade sideways or down.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool