BTC Unexpected September Rally Expected, Analysts Predict
CryptoNewsTerminal Staff05 Sep, 2024
BTC Unexpected September Rally Expected, Analysts Predict
Bitcoin (BTC) has historically experienced a dip in September, but analysts are predicting a potential surge this year due to several factors. Tylir Capital CIO Ed Hindi told Cointelegraph that the Federal Reserve's possible rate cuts and other significant US macro events could drive BTC's price upward in September. He suggests BTC could trade above $60,000 during this period. Crypto trader DaanCrypto supports this view, observing that BTC is currently establishing higher lows, indicating a bullish trend where buyers outweigh sellers. According to DaanCrypto, a breakout above $65,000 could trigger a further bullish continuation move. These predictions align with historical data, as September has been a positive month for BTC in recent years. In 2020, BTC gained over 10% in September, and in 2021, it surged by approximately 40%. While the market remains volatile, analysts are optimistic about BTC's performance in September, anticipating a potential rally that could surprise investors.
