bullish

Value

Bitcoin

when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analysts-anticipate-bitcoins-september-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Anticipate Bitcoin’s September Trends</a><br></p>
<p style="text-align: justify">In August, <a href="https://en.bitcoinhaber.net/bitcoins-price-surge-anticipated-as-block-reward-halving-approaches" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> experienced moderate disappointment with declines at both the beginning and end of the month. Although the overall outlook for Bitcoin remains bearish, certain macro-financial developments have the potential to alter this trajectory. Currently, Bitcoin’s price is below $60,000 following a 7.5% drop in the past week.</p>
<h2 id="what-s-influencing-bitcoin-now">What’s Influencing Bitcoin Now?</h2>
<p style="text-align: justify">Investors are likely to sustain the current trend until “Uptober,” a period where Bitcoin’s recovery is anticipated to continue. Innokenty Isers, Founder and CEO of Paybis, provided some insights:</p>
<p style="text-align: justify">“September has traditionally been a negative month for Bitcoin, with historical <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a> showing an average decline rate of 6.56%. This month, so far, investor sentiment has been negative as Bitcoin traded between $49,000 and $66,000.”</p>
<h2 id="could-this-be-a-turning-point">Could This Be a Turning Point?</h2>
<p style="text-align: justify">This aligns with the macro Market Value to Realized Value (MVRV) Ratio, which assesses investor profit and loss. Bitcoin’s current 90-day MVRV data stands at -4.8%, signaling profitability and potential buying pressure. Historically, MVRV data between -2% and -12% has indicated the start of recoveries and uptrends, seen in mid-June 2023, early October 2023, and recently in early July.</p>
<h2 id="investment-implications">Investment Implications</h2>
<p style="text-align: justify">Investors generally increase their Bitcoin holdings when the MVRV ratio falls between -2% and -12%, marking this as an accumulation opportunity zone. Should this historical pattern repeat, Bitcoin could be set for an uptrend and a significant rise towards the end of the month. Key takeaways for <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> include:</p>
<ul>
 <li>Monitoring the MVRV ratio for accumulation opportunities.</li>
 <li>Staying vigilant for signs of potential recoveries around historical data points.</li>
 <li>Preparing for possible uptrends towards the end of the month.</li>
</ul>
<h2 id="bitcoin-chart-analysis">Bitcoin Chart Analysis</h2>
<p style="text-align: justify">Bitcoin’s price could follow one of two paths in September. The first scenario suggests that Bitcoin might remain below $68,300, hampered by recent resistance levels. Given the bearish trends, this outcome appears plausible.</p>
<p style="text-align: justify">The second scenario involves a breakout past the descending broadening wedge at $68,300, potentially leading to a 22% increase and a new all-time high above $73,800. However, this bullish scenario requires favorable macroeconomic factors and a rise above $70,000.</p>
<p style="text-align: justify">If Bitcoin fails to exceed $65,000, the likely result is consolidation below this resistance but above $57,040, which could delay any uptrend to early or mid-October.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analysts-anticipate-bitcoins-september-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Anticipate Bitcoin’s September Trends</a></h5>

Analysts Anticipate Bitcoin’s September Trends

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