Based

Bitcoin

Show

Simply

Cosmos

<p>Recently, CryptoCon <a href="https://twitter.com/CryptoCon_/status/1701952410195800434?t=cRC98BMoYpXtDlF00L9WxQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">shared </a>some perspectives about Bitcoin’s past performance and possible bottom levels. In a series of tweets, @CryptoCon_ highlighted patterns seen in previous Bitcoin cycles.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="583" src="https://captainaltcoin.com/wp-content/uploads/2023/09/cryptocon-btc-analysis-1024x583.png" alt="" class="wp-image-334612" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/cryptocon-btc-analysis-1024x583.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/cryptocon-btc-analysis-300x171.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/cryptocon-btc-analysis-768x437.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/09/cryptocon-btc-analysis-1536x874.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/cryptocon-btc-analysis-2048x1166.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/cryptocon-btc-analysis-263x150.png 263w, https://captainaltcoin.com/wp-content/uploads/2023/09/cryptocon-btc-analysis-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/cryptocon-btc-analysis-615x350.png 615w, https://captainaltcoin.com/wp-content/uploads/2023/09/cryptocon-btc-analysis-788x448.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/09/cryptocon-btc-analysis.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p>According to this technical analysis expert, out of the six early tops observed in Bitcoin’s history, four have found their bottoming point in August, while the remaining two have done so in November. With the first early top of the current cycle already in place, @CryptoCon_ suggests that the bottoming point for this cycle may have already occurred in August.</p> 
<p>However, he acknowledges that many in the crypto community, including himself, are anticipating some additional downside. This caution is driven by the historical performance of September, which is often a poor-performing month for Bitcoin, and the fact that the price is currently below healthy bull market supports, such as the 20 Week EMA.</p> 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i> 
  <div class="rh-colortitle-inbox-label">
    Trade on US-Banned Exchanges With No KYC 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
  </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>Tired of missing hot new listings because your favorite exchange is banned in the US? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>With <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a> you can finally trade on Kucoin, ByBit and more without registration or KYC! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>Simply connect your wallet to access every coin. No VPN needed.</p> 
    <p>Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.</p> 
    <p>Take your trading to the next level with:</p> 
    <ul> 
     <li>Instant access to banned CEXs <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6ab.png" alt="🚫" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>No KYC required <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f645-200d-2642-fe0f.png" alt="🙅‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>Trade on your terms – no registration required</li> 
     <li>Maintain full custody – tokens stay in your wallet</li> 
     <li>Access liquidity across leading DEXs and CEXs</li> 
     <li>Bridge assets quickly between any blockchain</li> 
    </ul> 
    <p>Escape CEX limits today with <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span> 
   </div> 
  </div> 
 </div> 
</div> 
<p>Despite these concerns, @CryptoCon_ raises an interesting question: Could those expecting a scenario similar to 2019 (minus unforeseen events like the black swan) be in for a surprise? Based on statistical analysis of early tops, it appears much more likely that Bitcoin has already hit its bottom for this cycle.</p> 
<p>This insight from @CryptoCon_ highlights the importance of considering historical patterns and statistical analysis when making predictions about the cryptocurrency market, and it leaves the crypto community with an intriguing possibility: the bottom may already be in, even in the face of some short-term uncertainty.</p> 
<p><em>Join us on <strong><a href="https://twitter.com/intent/follow?screen_name=captainaltcoin" data-type="link" data-id="https://twitter.com/intent/follow?screen_name=captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Twitter</a></strong> and <strong><a rel="noopener noreferrer nofollow" href="https://www.facebook.com/captainaltcoin" target="_blank">Facebook</a> </strong>for the latest insights and discussions in the world of crypto.</em></p> 
<p><em>Explore our <strong><a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a></strong> and stay ahead of the curve with our expert <strong><a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>.</strong></em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/top-analyst-stats-point-to-august-bitcoin-btc-bottom-but-september-is-still-crucial/">Top Analyst: Stats Point to August Bitcoin (BTC) Bottom but September is Still Crucial</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Top Analyst: Stats Point to August Bitcoin (BTC) Bottom but September is Still Crucial

CaptainAltcoin

Other articles published on Sep 14, 2023

Base Network: Decoded by Notum

Axie Infinity (AXS) Pumps 20%, Here's What Happened

ATOM price outlook after Cosmos Hub’s upgrade for liquid staking

Paxos mistakenly paid over $500k for one Bitcoin transaction

Banana Gun relaunches on Uniswap v2

Unity’s Fee Policy Controversy An In-depth Analysis

Join our free newsletter for daily crypto updates!