Bitcoin and Ethereum Predictions for August 2023: What Experts Think
August has finally arrived, and I'm excited to kickstart another series where we explore the predictions of crypto experts regarding the price of ETH and BTC for this month. Before we dive in, let's take a moment to review the performance of ETH and BTC in the previous month. In my previous blog covering the crypto expert's predictions for July 2023, several predictions were made. And by the end of July, ETH closed at $1,880.92, while BTC finished at $29,356.75.
Out of the three featured crypto experts who made predictions for BTC, Changelly's prediction was the closest to the actual closing price of $31,218.50. Conversely, when it came to ETH, 30rates' price predictions turned out to be the most accurate, closely matching the closing price of $2,016.
Now, let's explore what the experts anticipate for August 2023.
Bitcoin Price Predictions for August 2023
As of now, the live price of Bitcoin stands at $29,357.61, and its current market cap is $570.77B USD. The 24-hour trading volume for Bitcoin is recorded at $10.48B USD.
According to Ambcrypto, BTC is expected to reach $30,605 by the end of this month. However, CoinPedia has a more optimistic view, predicting that BTC might reach the interim resistance at around $31,800 and even go further up to $33,000 by the end of August 2023.
On the other hand, CryptoPredictions has a bearish outlook and believes that BTC will close the month at $20,140.213.
Ethereum Price Predictions for August 2023
Right now, Ethereum is getting closer to a significant point at $1,900, after staying stable for the past week.
PricePredictions, a well-known prediction tool, thinks that Ethereum might trade at around $1,785 by August 31, 2023. On the other hand, Ambycrypto is more optimistic, predicting that the price of ETH could go up to $2014.53 by the end of this month.
In contrast, cryptopredictions is taking a more cautious or bearish stance in its forecast. They predict that the price of ETH will finish the month at $1,357.093. This indicates a more conservative outlook, suggesting that the experts at cryptopredictions expect the price of Ethereum to decrease or remain relatively low compared to the other predictions.
If you're feeling overwhelmed by all the predictions made by various crypto experts for ETH and BTC prices, know that the predictions can change because of many things. For example, the experts look at market trends, tech progress, what investors feel, and the overall economy. Also, different ways of predicting used by these platforms and experts might lead to different guesses about Ethereum's future price. Since the crypto market is very uncertain and influenced by many factors, it's common to see different predictions from different sources.
Anyways, which crypto expert do you think will come closest to predicting the closing price of ETH and BTC?