Bitcoin recently broke through a new high of $123,218; however, this pump did not last long. As previously analyzed, the price of Bitcoin has started to decline. Based on the current market trend, it is expected that before mid-September, Bitcoin is likely to reach the price range of $101,000 to $102,000. This range will become an important support level for investors and may also provide rebound opportunities for short-term traders.

Although it may face adjustments in the short term, the long-term development prospects of Bitcoin are still worth following. Market volatility is the norm in the cryptocurrency field, and investors should remain rational, paying attention to changes in fundamental factors and the macroeconomic environment.

It is worth noting that the high volatility of the cryptocurrency market means that predictions are not absolutely accurate. Investors should conduct comprehensive research and risk assessment before making any investment decisions. Furthermore, as the regulatory environment continues to change and institutional investors remain involved, the dynamics of the Bitcoin market may also change accordingly.

Overall, although there may be a certain degree of pullback in the short term, Bitcoin, as the leader in the digital asset space, still holds long-term development potential worth looking forward to. Investors should remain vigilant while not overlooking potential investment opportunities.