Bitcoin Could Slip In September Before Rally, Cycle Data Shows

Bitcoin Could Slip In September Before Rally, Cycle Data Shows
Bitcoin Could Slip In September Before Rally, Cycle Data Shows

Bitcoin wore more than $ 112,000 after slipping to $ 107,000 last week, its lowest sign since July. The recovery sparked hope among merchants, but analysts remain divided on whether the current ascension could retain until September.

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September recorded at scrutiny

Historical data shows that September was not nice with Bitcoin during the half -years after. In 2017, the coin completed the month with a loss of approximately 8 %, while the decrease in 2021 was 7 %.

Until again, in 2013, Bitcoin 1.60 % decreased in the same month. This style has prompted some experts to say that re -testing the main technical levels this year is not unusual.

Benjamin Quinn, the ITC Crypto president, has repeatedly referred to the simple moving average for 20 weeks as a sign.

According to him, September tends to bring price drops at this level before recovery in the fourth quarter. Quinn believes that the recent decline is suitable for a wider rhythm in previous sessions.

Mixed views on the consistency of the course

Not everyone is convinced. Some analysts raised questions about whether the course is separated from traditions. They highlighted that Bitcoin usually records gains in August before returning September. This time, however, the opposite happened.

Bitcoin closed August with a loss of 6.25 %. This stands in a blatant contradiction with August 2017, when the currency increased by 64 %, and August 2021, when it gained 15 %.

These two strong months were a sudden decrease in September. Analysts believe that current data indicates a different composition that can be at work, with macroeconomic parameters such as price discounts more clearly on the price procedure.

BTCUSD trading at $ 110,726 on 24 -hour graph: Tradingvief

Calls that the bottom already exists

Despite the cautious tone of some analysts, there are sounds indicating a brighter look in the short term, saying that the lowest level in September may already be behind Bitcoin.

The month opened the month at 10,200 dollars, touched to $ 110,100, and decreased to 107,000 dollars before recovery. Based on this sequence, analysts suggest that the market may avoid setting its lowest levels this month.

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However, Queen continues to emphasize that the corrections after setting new levels are part of the cycle. It indicates the peak of the new record in August as evidence that the market follows the same plan in previous years.

In his opinion, the decline to SMA for 20 weeks is a less warning sign than preparing for a strong crowd at the end of the year.

While the discussion continues during the September results, most analysts agree on one point: the short -term disorder is unlikely to change the long -term image.

Recent data showed that despite the temporary decreases, Bitcoin is expected to circulate much higher in the coming years.

Distinctive image from Meta, tradingView graph

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