• 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.

Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.