Bitcoin price on August 30, 2021

When the break is needed – The resumption of Bitcoin ‘s (BTC

) bullish rally was interrupted by major resistances in the $50,000 – $51,000 area. With just over 24 hours to go until the July 2021 close, traders and analysts are providing some insight into the likelihood of a new all-time high by the end of 2021, with a forward-looking agenda based on historical data.

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Bullish Bitcoin: Resistance and Accumulation

Bitcoin starts the day today, August 30, 2021, above $49,000. It then begins a long fall to form a low at $47,489 on Bitfinex. The rebound brought Bitcoin back above $48,000. Bitcoin is trading at $48,431 at the time of this writing, and is currently recording a daily loss of 0.73%.

As Bitcoin continues its back and forth between $47,000 – $50,000, some analysts are taking a cautious view of the current trend. Trader Michaël van de Poppe stated in his tweet yesterday, August 29, 2021, that he would only be bullish on Bitcoin when it breaks through $51,000.

Le trader Michaël van de Poppe ne sera haussier sur Bitcoin que lorsque son prix dépassera les 51 000 $.Le trader Michaël van de Poppe ne sera haussier sur Bitcoin que lorsque son prix dépassera les 51 000 $.Michaël van de Poppe’s post – Source: Twitter

While this caution is warranted in the very short term given the fluctuations in Bitcoin’s price over the past few days, data from Ecoinometrics gives an optimistic outlook on the trend over a longer period. Ecoinometrics has indeed revealed a positive change during August 2021, in the wallet balances of whales holding 1,000 BTC to 10,000 BTC. Large wallets are thus accumulating Bitcoins betting on higher levels compared to current Bitcoin prices.

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Small wallets holding less than 1 BTC are doing the same. According to Ecoinometrics, they have been accumulating Bitcoins since June 2021. They even absorbed the selling pressure from the whales for a period of time.

Les baleines et les petits portefeuilles BTC ont accumulé des Bitcoins ces derniers temps. Bientôt une hausse au-dessus des 50 000 $ ?<img width=”957″ height=”1080″ src=”https://yellowrocketagency.com/wp-content/uploads/2021/08/ecoinmetrics..jpg” alt=’The Whales and small BTC wallets have been accumulating Bitcoins lately. Soon to rise above $50,000?’ />EcoInometrics post – Source: Twitter

Data shared by Glassnode today, corroborates this accumulation of Bitcoins. The number of addresses holding at least 0.1 BTC hit a 3-month high at 3,231,069 BTC today.

Les données de Glassnode confirment cette accumulation de Bitcoin, et donc un renforcement des fondamentaux de Bitcoin.Les données de Glassnode confirment cette accumulation de Bitcoin, et donc un renforcement des fondamentaux de Bitcoin.Glassnode publication – Source: Twitter

September, it’s time to get off or the bull run exception?

Barring a crash in the next 24 hours, Bitcoin should comfortably close August 2021 in the green. This month has seen Bitcoin regain the $50,000 mark, but also falls below $47,000 that cast doubt on whether the bull run will continue. Will September finally signal the resumption of the bull run with Bitcoin approaching its current all-time high?

Michaël van de Poppe is rather pessimistic on this question because, “Bitcoin does not like September at all.” Indeed, historical data shows that Bitcoin is rather bearish in September and when it is not, monthly gains only exceed 6%. Are there any major reasons why an exception should be made in 2021?

Le bull run de Bitcoin reprendra-t-il en septembre 2021 ? Peu probable, au vu des performances historiques de Bitcoin en septembre.Le bull run de Bitcoin reprendra-t-il en septembre 2021 ? Peu probable, au vu des performances historiques de Bitcoin en septembre.Publication by Michaël van de Poppe – Source: Twitter

If September is not bullish, the fourth quarter would give them wings, especially in the year after halving. January was supposed to be bearish in 2021 based on Bitcoin’s past performance, but that was far from the case this year.

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The daily analysis of Bitcoin’s price, which among other things identifies major short-term support and resistance, should not hide the most important factor for a 6-digit Bitcoin: the increase in its adoption rate among both small wallets and billionaires who fear a devaluation of fiat currencies</a

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