Bitcoin In September: Will The Bearish Curse Strike?

September is often dreaded by Bitcoin investors, known for being historically a difficult month for the cryptocurrency. However, this year, speculations are divided between a possible bearish curse and a bullish rise.

Bitcoin, bearish curse or bullish rise in September?

Historically, September has been a month of poor performance for Bitcoin. Data shows that, since 2013, Bitcoin has often recorded losses in September. This trend has led to some apprehension among investors, who fear a repetition of past declines.

This year, Bitcoin faces significant resistance at the $60,000 level after a recent sell-off, which worries investors and analysts about its future trajectory. As Bitcoin hovers around this crucial threshold, observers fear a prolonged bearish market. 

An analyst highlighted the importance of the “price realized by the hot supply,” set at $66,000. According to him, Bitcoin generally remains bullish above this level. A sustained drop below $66,000 could signal a bearish phase, making it crucial for investors to monitor this measure.

Perspectives for BTC

Currently, Bitcoin is trading at $58,938, recording a daily loss of 0.3% and a weekly decline of 8%. The crypto queen struggles to break the $60,000 resistance! This could weaken investor momentum and lead to further losses. The coming weeks will be crucial to determine its trajectory.

Experts are divided on Bitcoin’s prospects for this month. Some foresee a necessary correction after significant gains in previous months, while others see buying opportunities at lower price levels. Market volatility remains a key factor to watch.

Moreover, global economic uncertainties and geopolitical tensions could weigh on Bitcoin! Meanwhile, growing adoption by financial institutions could favor a bullish trend.

September remains a high-risk month for Bitcoin, with divided opinions on its future direction. Investors need to stay vigilant and well-informed, considering technical analyses and global economic developments. Whether it’s a bearish curse or a bullish rise, Bitcoin continues to captivate the financial world’s attention.