Bitcoin While it continues to be under selling pressure, mixed estimates from top analysts and market observers indicate that there may be increased volatility in the short term at some point. Although analysts’ generally downward estimates make investors nervous, some levels should be followed carefully and positions should be taken at these levels in order to reduce anxiety.
Justin Bennett Waiting for $53K
Experienced analyst, a name closely followed by cryptocurrency investors Justin BennettWhile reaffirming his $53,000 target for Bitcoin, he noted that the largest cryptocurrency has been moving towards that level since its last false spike to $63,300. 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!
Bennett emphasized the importance of the $48,000 support, warning that the price could be pulled down to this threshold, so investors should follow the largest cryptocurrency “level by level.”
September Wasn’t Always the Worst Month
Another leading analyst Rekt Capital He provided valuable information about Bitcoin’s historical performance in September. He stated that Bitcoin generally made downward movements in this month, and losses generally ranged from -1.76 percent to -7.51 percent. In particular, he underlined that Bitcoin had only suffered double-digit losses twice in September, noting that it fell by -13 percent in 2019, a year before the block reward halving, and by -19 percent in 2014, a bear market year. He noted that Bitcoin is currently block reward halving yearEmphasizing that it is in the , Rekt Capital stated that it does not expect a similar double-digit decline for this reason and that a pullback may occur to around $ 54,900 at most.
Rekt Capital added that September is not always the worst month for risk assets like Bitcoin. While the month has a reputation for declines, declines are usually limited to single digits. In fact, there were cases where Bitcoin made relatively modest gains in September, ranging from +2.35% to +6.04%.
Despite all these historical trends, it remains unclear how Bitcoin will perform this September. While Bennett’s $53,000 target scenario suggests that the decline will continue to deepen, Rekt Capital’s analysis offers investors a slightly bearish scenario.
On the other hand BTC Below a psychologically important level of $60,000, it continues its downward movement. According to CoinMarketCap data, the largest cryptocurrency is currently trading at $56,550, up 0.08 percent in the last 24 hours.
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.
