While Bitcoin had experienced a decent climb since the fork took place. It experienced a $150 drop on August 22, where it is now being traded at $3894.
Everyone has observed this rally quite extensively and some traders have started to believe that this rally might even be reaching its peak.
Organizer of the trading group Whale Club, BTC VIX, commented that he is slowly losing confidence in the rally. Since the price has dipped four times since crossing that $4000 mark, he thinks it’s a sign that the market doesn’t want to push the price higher.
On the other hand, market spectators predict that bitcoin might stabilize around the $4000 mark. We are unaware of whether it’d rise back up or drop down lower. We do know that the next big date that’s marker on our calendars is Segwit2x in November.
News credits: coindesk.com