Top Analyst Issues Bitcoin Alert In September

August 29, 2022 - Around 2 mins mins to read

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

Top Analyst Issues Bitcoin Alert In September

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

Equities market in general isn't looking good right now so this dip on $BTC is a reflection on that

September in general isn't historically a great month

Possibly dip here that ends up being buyers opportunity for following months

I'll be a spot buyer for long term on sub $20k pic.twitter.com/ZPSM2sYaST
— Rager (@Rager) August 27, 2022

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.

Screen Shot 2022 08 29 at 3.53.28 PM — 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.

$BTC is 835 days since the last halving & this is around the time of the cycle bottom (give or take a couple months before/after)

So far there's a case that the Bitcoin bottom is in unless the stock market continues to break down

So what's next?… Basically range for a year pic.twitter.com/wDxH57pnK7
— Rager (@Rager) August 24, 2022

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.

Many talking about the merge & disbelief about $ETH price drop

People forget that ETH did a 2x 100%+ in only one month

That price action was the merge being priced in, IMO

Those who traded it have been taking profits on those who were late, along with equities pulling back pic.twitter.com/e4LnbQ7xdM
— Rager (@Rager) August 26, 2022

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

Screen Shot 2022 08 29 at 3.57.22 PM — ETH daily chart. *Source: CoinCu*

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