King crypto money At the time of writing, the currency is above $63,500 and altcoins are showing increasing activity. While AVAX continued the day with a 10 percent increase, popular cryptocurrencies such as SHIB and DOGE also increased their gains beyond 5 percent. So what is the current outlook for BTC? What are the September predictions?
Bitcoin (BTC)
It recently dropped to $49,000 Bitcoin price It has now returned to $63,500. Altcoins, which have lost serious blood amid the excessive sales, continue to recover. The fluctuation in the BTC price is related to Powell’s statement today. As expected, the Jackson Hole speech brought about an increase in cryptocurrencies. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Powell Although he said it was time to start the reductions, he did not state a clear path regarding the pace of the reductions. Market expectations are that the 100bp reduction will be made before the end of the year. Moreover, the statements made by the Fed members throughout the week generally shared the concern that employment was beginning to erode.
Bitcoin price is stuck between $55,724 and $73,777 after the last ATH and the direction is up as the bears are struggling to close below $55,724. If weekly and monthly closes above $60,000 come, the bears’ job will become even more difficult.
Bitcoin Price Prediction
September will be an important period in terms of both volume growth due to the end of the summer season and recovery in risk appetite due to interest rate cuts. If the expected scenario comes true, within a few weeks Bitcoin It wouldn’t be surprising if it tries to exceed the $70,000 price tag.
The 20-day exponential moving average served as strong support at $60,195. Now, while $61,400 has become support, the BTC price is targeting $65,660 by turning $63,100 into support. The route is clear in the bullish scenario. In the next phase, $70,000 and $73,777 will be targeted.
However, closing below $60,195 could bring the $55,724 and $49,000 targets to the agenda. For now, the current outlook for the BTC price is upwards, while a multiplier effect is possible in altcoins. AVAX Since it recently announced two big pieces of good news, it wouldn’t be surprising to try it here for $32.
Investors should not underestimate the surprise-filled nature of crypto, however. If the US were to move its $10 billion-plus cryptocurrency, it could be a bearish move that will last at least a few weeks.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
