Coinbry

  • Market Cap: $2,522,349,522,616.93
  • 24h Vol: $71,648,178,977.87
  • BTC Dominance: 50.89%
Bitcoin's Potential September Crash to $22K: 5 Key Insights

Bitcoin’s Potential September Crash to $22K: 5 Key Insights

– Bitcoin (BTC) is struggling to maintain its price above $26,000 as August comes to an end, making it the worst month of 2023 for the cryptocurrency.

– The recent crash in BTC price has left traders uncertain about its future performance, especially with September historically being a poorly-performing month for Bitcoin.

– Traders and analysts are preparing for more downside, as there is no sign of a rebound in sight.

– The monthly close is a key concern for market participants, with many expecting volatility to continue and potentially push BTC to multi-month lows.

– Historical data suggests that September could be almost as bad as August, with a potential drop to $22,000 in BTC price.

– BTC’s year-on-year percentage returns indicate that it is currently experiencing its longest bear market in history.

– Macroeconomic developments, such as the Federal Reserve’s interest rate changes and data releases, have had little impact on Bitcoin and altcoin markets.

– The upcoming release of Personal Consumption Expenditures (PCE) Index data could also have a muted effect on the crypto market.

– Bitcoin miners may provide some optimism for bulls, as the hash rate reaches new all-time highs and indicates a “miner bull run” leading up to the halving in April 2024.

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