Bitcoin

Rekt

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/bitcoin/bitcoin-price-prediction-for-september-will-btc-price-drop-to-22k-coming-month/">Bitcoin Price Prediction For September: Will BTC Price Drop To $22k Coming Month?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The price of Bitcoin (BTC) could be primed for a significant drop in the coming weeks, according to a recent analysis from crypto market expert Rekt Capital.</p> 
<p>Rekt Capital examined historical data and chart patterns to assess the likelihood of a potential plunge for the leading cryptocurrency. In a tweet, Rekt Capital noted that Bitcoin tends to see double-digit percentage drawdowns in August and September, implying further declines may be imminent.</p> 
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   <p lang="en" dir="ltr">Could Bitcoin Crash to $22,000 In September?<br><br>To answer this question, we need to first focus on August<br><br>What was the worst <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> August drawdown in history?<br><br>-17% in 2014 and -18% in 2015<br><br>Currently in 2023, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> is now down -16%<br><br>If BTC were to drop -18% this August, BTC would… <a href="https://t.co/58pJKUwvHj" rel="noopener noreferrer nofollow">pic.twitter.com/58pJKUwvHj</a></p>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1694746116858769707?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 24, 2023</a> 
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<h2 id="looking-back-at-worst-case-scenarios" data-name="looking-back-at-worst-case-scenarios" class="wp-block-heading">Looking Back at Worst-Case Scenarios</h2> 
<p>To gauge downside risks, Rekt Capital first analyzed previous years with the steepest August declines. Currently, in 2023, Bitcoin’s price has fallen 16% since August. The worst August drawdowns in history were 17% in 2014 and 18% in 2015.</p> 
<p>If Bitcoin were to drop 18% this August, like in 2015, that would bring the price down to approximately $24,700, according to Rekt Capital’s math. However, September drawdowns also need to be factored in.</p> 
<p>According to Rekt Capital, September has tended to be another weak month for Bitcoin, with single-digit percentage losses being common. Assuming an additional 10% drop in September, that would put Bitcoin around $22,200.</p> 
<p>This aligns with Rekt Capital’s target of $22,000, which comes from measured technical projections related to Bitcoin’s recent “double top” chart pattern. This pattern points to further downside momentum ahead.</p> 
<h2 id="still-awaiting-confirmation" data-name="still-awaiting-confirmation" class="wp-block-heading">Still Awaiting Confirmation</h2> 
<p>However, Rekt Capital stopped short of an explicit Bitcoin price forecast, noting the analysis depends on the historical patterns playing out similarly. Until confirmed breakdowns occur, the analysis remains hypothetical.</p> 
<p>Nonetheless, Rekt Capital’s risk/reward assessment provides useful context on the potential vulnerabilities in the market during a historically turbulent time of year for Bitcoin. With the Fed’s tightening cycle ongoing, further crypto volatility is to be expected.</p>

Bitcoin Price Prediction For September: Will BTC Price Drop To $22k Coming Month?

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