After a few days the earnings started to appear BTC It has fallen again and has become the focus of big question marks. Despite reaching $ 73,750 on March 14, Bitcoin continues to fall and seems to be facing a difficult market condition as the price is at $ 60,000. In addition, when looking at past data, the fact that September generally reflects losses seems to have complicated the situation even more.
Bitcoin and September
In the near future, unexpected Bitcoin and the market crash occurred. This saw the BTC price drop from $64,400 to $58,800. This caused $320 million worth of cryptocurrency to face liquidation. 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!
On the other hand, almost every year since 2013 September It is also known that Bitcoin hosted declines in the month.
According to data provided by Coinglass, there have always been declines in the last six years, leaving aside the year 2023. The same situation has happened before, and only three months of positive Septembers have been seen in the last eleven years. Looking at the data, the price changes seemed to have occurred between a minimum decrease of 1.7% in September and a decrease of 19%.
The Future of Bitcoin
For BTC investors, the overall situation seems to have shifted from greed to chaos. More importantly, the current situation reflects the state of the general economy, which shows that the process is not unique to Bitcoin.
On the other hand, in September BTC Many events continue to occur, including interest rate cuts, which could have a positive impact on the price.
On the other hand, the charts reflect that there were continuous declines in September. Despite this, despite the 11.29% decline experienced in the previous month last year, the positive outlook of 3.91% seen in monthly reviews was considered an exception. More importantly, the expectation that the same situation will occur next month is gradually gaining strength. However, the uncertainty in the charts can continue to move in any direction depending on the direction of the trend.
The same situation is also reflected in technical indicators. 24-hour and weekly charts reveal bullish and bearish movements in the market. As a result, while uncertainty has been intense in the charts so far, price consolidation is seen. Accordingly, many analysts state that uptrends may occur if the resistance at $62,727 is broken and maintained.
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.
