[Bitcoin Now] Maintaining $20,000 Level for 6 Days... "No Price Fluctuations Expected for the Time Being"

[Asia Economy Reporter Myunghwan Lee] Bitcoin prices have been hovering around the $20,000 mark for six consecutive days.

According to the global cryptocurrency market tracking site CoinMarketCap, as of 11:06 AM on the 2nd, Bitcoin was priced at $20,058 (approximately 27.17 million KRW), down 0.45% from the previous day.

Bitcoin prices are testing support levels at the $20,000 mark, showing a stagnant price trend. Cryptocurrency specialized media CoinDesk reported that Bitcoin prices have been fluctuating around the $20,000 level for six consecutive days.

Bitcoin prices are expected to remain around the $20,000 level until the U.S. Federal Reserve's (Fed) September interest rate decision. CoinDesk predicted, "Prices will likely maintain a similar range until the release of economic indicators such as next month's scheduled inflation figures and the Fed's interest rate hike decision."

Greg Johnson, CEO of Rubicon Crypto, also stated, "Bitcoin prices will show a similar price trend for a while until major decisions come from regulatory agencies," adding, "We are paying close attention to events expected to occur in September."

Investor sentiment has slightly eased compared to the previous day. According to cryptocurrency data provider Alternative, the Fear & Greed Index, which measures investor sentiment, rose 5 points from 20 (extreme fear) the previous day to 25 (extreme fear) on this day. Alternative's Fear & Greed Index ranges from 0, indicating extreme fear and pessimism about investment, to 100, indicating optimism.