The post There Is a Possibility That Bitcoin Will Experience Massive Price Action in September! The post Market Watcher Discusses Bitcoin’s Price Behavior Over the Past Month appeared first on Coinpedia – Fintech & Cryptocurrency News Media| Crypto Guide.
Many people these days are keeping a close eye on the price of bitcoin. Not only have many people been taken aback by the unexpected twists and turns, but they have also spread the fog of uncertainty over the approaching rally. From a historical perspective, the month of September has been shown to be the most bearish of the entire year. As a consequence of this, some analysts feel that the star cryptocurrency may soon reach its bottom.
One of the most prominent cryptocurrency analysts believes that September will not be a good month for Bitcoin or the cryptocurrency market as a whole. The price of bitcoin often falls by approximately 6% to 8% throughout the month of September, but it eventually begins to significantly increase at the beginning of Q4 in October.
Despite this, the expert believes that the market will continue to range between $18,000 and $48,000 after remaining in a sideways trade until April 2024. In addition, there is a possibility that the price of bitcoin will make a new all-time high in the near future. Until then, the expert believes that there is a possibility that Bitcoin will not experience large surges and upswings as SPX continues to break down more strongly. On the other side, analysts who are looking at the recent surge in the price of Ethereum (ETH) believe that the hype surrounding the Merger has already been factored in. The asset has already demonstrated a 100% increase in price a couple of times in the past, and since then, it has been trading in a sideways range.
At the moment, the price of one Bitcoin is around $20,232.61, and the price of one Ethereum is approximately $1520.41. This represents an increase of 1.10% and 2.23% respectively.
In order to start the fourth quarter trade off on a strong note, it is also anticipated that the forthcoming monthly close will be bullish and will settle over $22,500 and $1700.