And of course more comments about September. Bitcoin (BTC) $57,013.95 priceı has fallen below $ 56,000 today. Risk appetite has weakened in the process that has been going on for months. Historical data is the only thing that keeps investors on their toes for medium and long-term goals. Moreover, unlike past cycles, we even have spot Bitcoin and Ethereum ETFs. So what are the predictions of different analysts in light of historical data?
Bitcoin Historical Data and Predictions
Bitcoin (BTC) He made similar moves before, as he did during the boring periods he has been experiencing for the last 6 months. CryptoCon wrote that we have not yet seen the phase of the cycle that will bring big profits, as the decline to the support area experienced in September 2016 has been experienced again in this period. 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!
“Just like September 2016 saw a mid-peak and then a support zone entry, the same thing happened in 2024. In fact, for alternating cycles, all months have been exactly the same for support zone entries. The 3-way pattern has not failed here yet, mid-cycle or in a bear market. The cycle is not over yet! We are reliving September 2016.”
Crypto Daan, on the other hand, says that investors should not have very positive expectations in September in light of historical data. The date that experts such as Rekt Capital pointed out for the rise even last month was not mid-September but at best the end. Daan wrote the following about 1 hour ago;
“Historically speaking, September Bitcoin (BTC) is the worst month for . Its average return over the last 12 years is -4.36%. This is the same level it is trading at today.
“People seem to be preparing for an absolute -50% crash in a month. It would never be this severe.”
Bitcoin Target for 2024 and 2025
Just as 2022 was a period of oversold sales, we should also see days when the RSI hits historical monthly highs. If BTC is not going to zero and the 4-year cycle stories are over, this is exactly what we should witness. In his latest assessment, Kyledoops says that we are on the verge of a major surge, just like in 2012, 2016 and 2020, just a few hours ago.
The analyst who shared the chart above believed that relying on historical data would be a good way to go and wrote:
“Bitcoin’s price action currently reflects the calm before the storm, signaling the end of the Blue Year, a key quiet period that paved the way for the explosive “Red Year.”
Historically, this phase has preceded all-time highs, as seen in 2012, 2016, and 2020, signaling the next major surge on the horizon.”
However, it is important not to get too fixated on historical data, because when these are violated, you will see your disappointment triggered by headlines such as “this is the first time this has happened.”
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.
