Why Bitcoin Price Is Down In August 2023?

Bitcoin's value has descended to levels comparable to those witnessed in June

Why Did Bitcoin Price Crash?

The BTC price crash on August 17 can be attributed to three main factors. First a news report from the Wall Street Journal disclosed that Elon Musk’s SpaceX. 

US Whales Buying the Bitcoin Price Dip

Crypto traders observed a crucial on-chain data point indicating that US institutional investors were capitalizing on the price dip.

Bitcoin Price Future Outlook

BTC might experience a moderate rebound due to well-off institutional companies and traders from the US who aim to prevent additional sell-offs.


August 2023 was a challenging month for Bitcoin, marked by a significant price drop. The resultant impact on traders and market sentiment.