Since reaching an all-time high in March 2024 Bitcoin (BTC) value droppednot maintaining a constant pace of growth and dampening investors’ expectations for a significant bull market after halving eventHowever, a cryptocurrency analyst offers a glimmer of hope, urging investors to remain patient despite the bearish market trend as a bullish turn for Bitcoin could occur in the next few months.
A glimmer of hope for cryptocurrency investors
How he said many cryptocurrency analysts believe that September is historically a tough period for Bitcoin, characterized by a robust decline in momentum, volatility, and instability. Rekt Capital, a cryptocurrency analyst, he said over 500,000 of his followers on X (formerly Twitter) Bitcoin price has plummeted by about 8% in September this year.
He revealed that the cryptocurrency had experienced a similar price decline in previous years, falling between 5% and 7% in September 2021, 2020, 2017, and 2018. According to the analyst, this price decline was not unusual, as BTC generally performs poorly this month.
In airy of this repeated downtrend, a cryptocurrency expert known as “Unipcs” has offered a glimmer of hope to investors who have been experiencing severe Bitcoin price declines recently. Unipcs he stated that in the past, October and November have been extremely positive and bullish for cryptocurrency prices, showing robust upward movements.
The analyst noted that the current market cycle this year is following the same trend as in previous years, when the value of bitcoin steadily declined in September and growth in OctoberBased on this historical pattern, Unipcs predicts that Bitcoin price may significant plot twist in the coming months.
He urged investors to wait a little longer and stay invested in BTCbecause he believes the market will soon become potentially more favorable and profitable. The analyst’s predictions are shared by many other cryptocurrency experts who have also identified repeated declines Bitcoin price in September.
Rob Inhoods, cryptocurrency enthusiast and analyst, revealed that since Bitcoin’s inception in 2012, September has only ended in the black three times. However, each time in October, November and December, the cryptocurrency recorded significant growth.
Crypto Rover, a famed YouTuber who deals with the Bitcoin cryptocurrency, also he said his 825,700 followers on X in September are usually worst month for BTCwhile October and November are historically the best months.
Bitcoin Rising After Months of Decline
September 10 Santiment, a market analysis platform, exposed a novel and profound change in Bitcoin’s price dynamics. According to reports, BTC’s market value is finally rising after witnessing a series of declines and slight increases since the halving that took place on April 20, 2024.
The cryptocurrency hit a high of $57,600 on Monday, September 9, up over 4.8% in the past 24 hours. Despite significant price enhanceinvestors still have doubts and are currently taking tiny positions in cryptocurrency markets such as Binance and BitMEX.
However, Santiment remained bullish, predicting that fear, uncertainty and doubt (FUD) among traders could potentially drive more bitcoin price spikesAt the time of writing, BTC is trading at $57,202, up 4.14% in value, according to CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
