The cryptocurrency market grew by 17.6%, but the risks of decline remain, including potential changes in institutional demand.

Binance founder Changpeng Zhao estimated the gap between Bitcoin and gold at tenfold. For parity with investment gold, BTC would need to reach $697,000.

The leading cryptocurrency posted an impressive result throughout August. However, overall activity in the crypto market remains quite weak.

A new crypto bull market may be just around the corner.