bullish

Bitcoin

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-could-reach-68000-in-september/" data-wpel-link="internal">Bitcoin Could Reach $68,000 in September</a><br></p>
<p style="text-align: justify">As we approach the end of August, time is running out. While it’s not expected for everything to repeat exactly as in previous cycles, some indicators have a low margin of error. Today, we will discuss three reasons why Bitcoin’s price could reach $68,000 in September.</p> 
<h2 style="text-align: justify" id="bitcoin-september-predictions">Bitcoin September Predictions</h2> 
<p style="text-align: justify"><strong>BTC</strong> rising will also lift altcoins, which have been struggling for a long time, making 20-30% gains easily achievable. Therefore, <a href="https://en.coin-turk.com/superverse-offers-blockchain-solutions-and-nft-trading/" data-wpel-link="internal">altcoin</a> <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are eagerly awaiting the days when BTC’s price will once again approach the $70,000 mark. There are at least three reasons for those who believe in a rise.</p> 
<h3 style="text-align: justify" id="btc-supply-on-exchanges">BTC Supply on Exchanges</h3> 
<p style="text-align: justify">The first reason is the amount of BTC held on exchanges. As of today, there are 2.68 million <strong>BTC</strong> on exchanges. In January, the figure was over 3 million, a decrease of 11%. While the price increased by 43%, the supply ready for sale on exchanges significantly decreased.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-382455 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTC-borsa-rezervleri-.png" alt="" width="1641" height="897"></p> 
<p style="text-align: justify">This <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, showing that BTCs are being transferred to cold wallets, is a bullish indicator. The ETF channel is also recovering, with only four negative days in the last 13 days. The recovery in the <strong>BTC ETF</strong> channel brings to mind the following comment from CryptoQuant analysts.</p> 
<blockquote> 
 <p style="text-align: justify">“A recovery in spot ETF purchases is necessary to boost overall Bitcoin demand and potentially lead to a corresponding price rally.”</p> 
</blockquote> 
<h3 style="text-align: justify" id="bitcoin-whales">Bitcoin Whales</h3> 
<p style="text-align: justify">According to Santiment data, addresses holding between 100 and 1000 <strong>BTC</strong> accumulated 94,700 BTC during the past six weeks. Whales are relatively experienced investors, and if their reserves are increasing in this seemingly negative environment, the medium-term outlook is positive. Demand increased rapidly, especially with the drop to $50,000.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-382456 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTC-balinalari-birikim.png" alt="" width="1275" height="610"></p> 
<h3 style="text-align: justify" id="bitcoin-technical-analysis">Bitcoin Technical Analysis</h3> 
<p style="text-align: justify">The <strong>BTC price</strong> fluctuating within the bull flag formation is preparing for an upward breakout soon. For this, closures above $60,300 are essential, and at the time of writing, the price is above this level. The formation target is $68,000, with the estimated date of reaching the target being September.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-382457 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTC-Eylul-2024-Hedef.png" alt="" width="1840" height="841"></p> 
<p style="text-align: justify">The $59,446 support is strengthening. If those expecting deeper dips for BTC join the buyers as the current stance continues, it will support the rise, presenting a different detail.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-could-reach-68000-in-september/" data-wpel-link="internal">Bitcoin Could Reach $68,000 in September</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-could-reach-68000-in-september/" data-wpel-link="internal">Bitcoin Could Reach $68,000 in September</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Could Reach $68,000 in September

Table of Contents

COINTURK NEWS

Autres articles publiés le 22 août 2024

Hackers Steal $700,000 After Hacking McDonald’s Instagram Account

Fed Minutes Boost Bitcoin Price

Binance-Listed Giant Altcoin Announces Major Update

Superstate Integrates Chainlink to Boost Transparency of USTB Tokenized Fund

Franklin Templeton brings tokenized money market fund to Avalanche

Here’s What the Shiba Inu (SHIB) Said Team About an Important Ecosystem Project

Join our free newsletter for daily crypto updates!