Bitcoin has been range-bound, leading to frustration among traders. The cryptocurrency showed initial promise but then lost momentum.
Market attention is now focused on the U.S. Federal Reserve's annual Jackson Hole Symposium, where crucial decisions regarding interest rates could significantly impact the market.
If Bitcoin breaks out of its current range, it might revisit $50,000, though there's also a possibility of continued stagnation.
Meanwhile, altcoins with connections to China are considered to have substantial growth potential, with some analysts predicting up to 100x returns.
