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Bitcoin Price Gains 25% in August as Short Squeeze Fuels Rally
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
Bitcoin rose 25.1% in August, climbing from $62,794 to $78,545 and recording its third-best August performance. The rally was fueled partly by a major short squeeze, with $5.8 billion in liquidations from August 17-21. August 19 saw a record $2.7 billion in short liquidations, while total monthly liquidations reached $12.65 billion. Bitcoin also closed July and August higher, a pattern historically followed by weaker September performance.
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