September is quite a negative month for Bitcoin which draws negative trends and makes the charts red. But what does this mean for BTC this time around? Crypto investors, traders, and holders are buckled up for September as history shows that September spells pressure down for Bitcoin.
Then, why this announcer is called the September slump? It’s a combination of market sentiments and trends where traders anticipate volatility thus there are cases of sell-off and profit-taking.
Add in macroeconomic factors such as high interest rates, business deregulation and uncertainty will be on for a bumpy ride.
But it is important to say that it is not high time to part with Bitcoin yet. However, an up-close look at the performance of the BTC shows that it has great potential. Rather unpredictable, its dips are usually followed by a rebound for a quick hike to the larger trend.
Bulls are waiting for similar rebounds when September come as a preparation for the Q4 surge. The most important MA levels will be located around $25000 – any breakdown of this level is likely to cause serious problems, while its preservation may signal a change of trend.
Altogether, it can be stated that September certainly might be volatile, but the narrative of Bitcoin is far from the end. Whichever way you look at it, this month could well be the trajectory for the rest of 2024.
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