There are many ways in which the economics and behavior of Bitcoin price can be understood.  Understanding when a rally is due and when it is not in due is indeed a challenge for amateur and expert Hodlers alike.

There was a decent hike in BTC price; however, it did not hold for long.  However, when the price of the Bitcoin went up, there was a surge in BTC interest in India.

The reasons Coindesk suggests to understand the BTC price movement psychology consist of endless printing of money, the patterns in stock flow, the changes in custody rules and banks stacking, traders piling in, DeFi, more buyers than sellers, dollar apprehension, negative interest rates, and the thirst for a new kind of money.

Something more exciting per Danny Nelson, is about 1,360 additional Bitcoin rigs to be received by August by the Marathon Patent Group.  If this happens, the Quebec facility of the publicly traded cryptocurrency mining firm will shoot in its hash power by 320% up, which will be 184 peta hashes. Reportedly, the expectation is that there will be 700 newly purchased “M31S+ ASIC Miners from MicroBT.” About, 660 Bitmain S-19 Pro Miners were ordered previously. And, all of them are expected to arrive in mid-August. A cash flow positive is expected by the company.

Bitcoin (BTC) Good for Those Who know the Game

Mike Novogratz sticks on to his idea that bitcoin and gold are going to increase in price due to the liquidity pump seen across the world.  He expressed that Bitcoin might touch $14,000; however, it did not happen that way. He also expressed that those retail investors who focus on stocks are likely to flow in to Bitcoin.

In this regard, Sydney Ifergan, the crypto expert tweeted:  “Those who took advantage of the short term price increase from Bitcoin (BTC) before the price crashed are happy about what they did indeed. Volatility Magic.”

The BTC volatility is indeed good for those who took advantage of it as the TCAT founder Sydney Ifergan expresses.

Gold is easy to buy, people have been educated to understand gold for a very long time now. However, BTC is a product which people are beginning to get trained.  Mass adoption is way ahead. For whatever reason any kind of investment is a speculation.  When sustainability challenges come up, new policies creep in.