Bitcoin

Rekt

The analysis was conducted by Rekt Capital, a premier analyst and renowned trader on Twitter, who thoroughly <a href="https://twitter.com/rektcapital/status/1697537141977354301?s=20" target="_blank" rel="noopener noreferrer nofollow">researched</a> Bitcoin’s historical performance in the month of September. According to Rekt Capital, September has generally been a negative month for Bitcoin. 
This observation is backed by data showing that 8 out of the past 10 Septembers have experienced downside. Interestingly, only two months, September 2015 and 2016, bucked this trend, recording small, single-digit gains of +2% and +6%, respectively. 
When it comes to the most likely retrace we could expect, the recurring theme appears to be a -7% dip throughout the month. This specific percentage of drawdown was observed in the years 2017, 2020, and 2021. Another close figure was a -5% dip in 2018, which aligns closely with the -7% mark. 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="482" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-7-1024x482.png" alt="" class="wp-image-326632" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-7-1024x482.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-7-300x141.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-7-768x361.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-7-1536x722.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-7-2048x963.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-7-319x150.png 319w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-7-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-7-744x350.png 744w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-7-788x370.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-7.png 2033w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
As for the possibility of a double-digit drawdown, it’s relatively rare but not unprecedented. Bitcoin saw double-digit retracements only in 2014 and 2019, with declines of -19% and -13%, respectively. However, Rekt Capital advises caution when comparing 2014 to 2023, as the former was a Bear Market year, while 2023 is considered a “Bottoming Out” year, making it more comparable to 2019 or even 2015. 
Regarding the potential for another crash in September, the analyst points to 2019 as a reference year. In that year, Bitcoin experienced a -13% retrace in September, but it’s important to note that this followed one of Bitcoin’s worst-ever August drawdowns at -16%. 
Given this context, Rekt Capital suggests that it’s unlikely for Bitcoin to experience severe back-to-back drawdowns in both August and September. 
In his personal thoughts, Rekt Capital speculates that a drawdown of around -7% to -10% could reasonably occur this September, which would see Bitcoin’s price dropping to approximately $24,000 to $23,000. This analysis offers a comprehensive view of what traders might expect for Bitcoin in the coming month, especially when considering historical trends and current market conditions. 
Join us on <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> and <a rel="noopener noreferrer nofollow" href="https://www.facebook.com/captainaltcoin" target="_blank">Facebook</a> for the latest insights and discussions in the world of crypto. 
Explore our <a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a> and stay ahead of the curve with our expert <a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>. 
The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/bitcoin-historically-has-a-negative-month-in-september-according-to-top-analyst-heres-his-timeline/">Bitcoin Historically Has a ‘Negative Month’ in September According to Top Analyst – Here’s His Timeline</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.

Bitcoin Historically Has a ‘Negative Month’ in September According to Top Analyst – Here’s His Timeline

CaptainAltcoin

Otros artículos publicados el 1 sept 2023

The Colorado Department of Motor Vehicles Now Accepts Cryptocurrency

Pepe Coin, STX Faces Correction, MKR Takes The Bull Road

Shiba Inu: Can Shibarium Burn 111 Trillion SHIB Every Year?

98.52% of WLD Investors in Loss, Is Worldcoin’s Future in Jeopardy?

Billions of SHIB Burned in August, Monthly Shiba Inu Burns Double

BTC Price In Shambles Again, Sell-Off To $20k Impending?

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!