What a relief! Bitcoin Prices Rise Again, See Crypto Academy Analysis

Bittime - On Friday, August 9, 2024, Bitcoin price is showing a positive trend again after experiencing quite high volatility in the last few weeks. 

This news was greeted with optimism by investors, especially after a period of uncertainty that had worried the market. 

Crypto Academy, in its latest analysis, provides in-depth insight into the factors driving these price increases and what to expect going forward.

Summer: Over

Latest Analysis from Crypto Academy

According to Akademi Crypto, one of the main driving factors Bitcoin price rises is a surge in interest from institutional investors. 

Recent data shows that more and more large financial institutions are increasing their allocation of funds into Bitcoin. This decision was largely influenced by global efforts to fight inflation and seek assets that are more resilient to economic turmoil. 

With increasing demand from this sector, the price of Bitcoin has been pushed up significantly. Besides that, Akademi Crypto also highlights the positive impact of regulatory developments in various regions, especially in the United States and Europe. 

Clearer and friendlier regulations for cryptocurrencies make investors more confident in entering the market. These supportive regulations provide much-needed certainty, encouraging more participation from investors large and small.

Technical Factors That Drive Bitcoin Prices Up

From a technical perspective, Akademi Crypto noted that Bitcoin price rises after successfully breaking through a key resistance level that was previously a barrier. 

On the daily chart, Bitcoin shows a strong breakout pattern, hinting at a potential continuation of the bullish trend. 

Analyst from Akademi Crypto estimates that as long as Bitcoin can maintain its position above this new resistance level, there is a high probability that the upward trend will continue for the next few weeks.

Apart from that, increasing trading volume is also another positive indicator. An increase in volume indicates that there is strong buying interest, which is encouraging Bitcoin price to keep going up. 

Analysts predict that if trading volume remains high, then this bullish momentum could persist in the medium term.

What Should Investors Pay Attention to?

Amid this optimism, Akademi Crypto continues to remind investors to be careful. Although Bitcoin price rises, volatility is still a factor to pay attention to. 

Investors are advised not to rush into making investment decisions and continue to prioritize good risk management strategies. Given the rapidly changing market dynamics, it is important to stay abreast of the latest developments and utilize available analytical tools to make better decisions.

Conclusion

Ascension Bitcoin price on August 9 2024 will provide a breath of fresh air for investors who were worried about previous market fluctuations. 

With support from in-depth analysis Akademi Crypto, investors can better understand what is driving this rise and how they can take advantage of the opportunities that exist.

Even though the market is showing signs of recovery, it is important for investors to remain vigilant and not let their guard down. 

With the right strategy and accurate information, this Bitcoin price increase could be a profitable opportunity for those looking to strengthen their position in the cryptocurrency market.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.