As Bitcoin consolidates between the $58,000 and $61,000 price levels, cryptocurrency analyst and trader Bob Loukas said in a cautionary statement: warned Investors expect the price of the crypto asset to remain stable, with no significant rally before mid-September.

Loukas, who is known for his objective assessment of the market, gave his views on the current price trend of BTC after receiving multiple requests from the crypto community regarding his opinion on the coin’s movement.

Bitcoin to see major upward movement next month

After recovering from a broader market crash last week, Bitcoin is struggling to break the $61,000 resistance level. As a result, crypto expert Bob Loukas expects BTC to stage a major rally after mid-September, suggesting an extended period of price consolidation.

Loukas’ prediction comes amid ongoing general uncertainty and fear in the market, leading regular investors to sell their BTC holdings to avoid further losses as BTC has once again fallen below $60,000.

In his post on the X platform (formerly Twitter), the analyst claims that Bitcoin has recently been wiped out and is still in a massive recession. accumulation zone. However, he warned investors not to expect a rally until at least mid-September.

Meanwhile, it is possible that the bulls will have to hold out until the weekly cycle low, which is a 9-month range, in December. While the crypto expert expects the bulls to wait until the weekly cycle low in December, he noted that spot Bitcoin Exchange-Traded Funds (ETFs) holders are put to the test and there is always a chance of surprises.

He went on to note that deeper lows could raise doubts about the bull market as a whole, but by then it would likely be too late to want to take action. Nevertheless, the analyst believes there is little reason to doubt that the 4-year cycle top will still occur in mid-to-late 2025, predicting that Bitcoin’s price will rise to around $100,000 and much more at that time.

“That keeps me sane and I don’t care about elections,” he added, urging investors to be patient and trust the potential of the largest crypto asset to generate significant profits in the long run.

BTC faces greater price fluctuations

Uncertainty and fear among investors seems to have increased overall as Bitcoin’s price continues to fluctuate widely. According to Bitcoin is now more vulnerable to large price swings over the weekend due to concentrated liquidity during the week, particularly with the rise of BTC spot ETFs in the United States.

Given the data from Kaiko Research, TOBTC stated that this shift increases the likelihood of extreme weekend volatility when BTCThe price of has been fluctuating excessively across exchanges, as evidenced by the recent sell-off on August 5. In addition, the sell-off risk has increased due to increased institutional and ETF activity, due to reduced trading volumes over the weekend.

Main image from iStock, chart from Tradingview.com