Bitcoin

Top Analyst Issues Bitcoin Alert In September

A closely followed crypto analyst cautions that the upcoming month has a track record of being unfavorable to Bitcoin’s price (BTC).

Rager, a pseudonymous analyst in the sector, tells his 206,100 Twitter followers that September is often not a good month for Bitcoin.

According to Rager’s figure, Bitcoin falls about 6% on average in September. At the time of writing, BTC is worth $19,813, a decrease of 0.98% over the previous day.

BTC daily chart. Source: CoinCu

While the crypto analyst is bearish on Bitcoin in the short term, he predicts it will move in a wide range between $18,000 and $48,000 over the next year or two.

According to the analyst’s chart, BTC might trade sideways until April 2024 before resuming its uptrend and setting a new all-time high.

Rager claims that the buzz around Ethereum’s highly anticipated transition to a proof-of-stake consensus mechanism has already been factored in.

At time of writing, ETH is trading at $1,445, down over 2.9% on the day.

ETH daily chart. Source: CoinCu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.