September May Be Cruelest Month For Bitcoin, Ethereum, Analyst Says: What Coins Benefit?
Portfolio Pulse from Murtuza Merchant
Crypto analyst Benjamin Cowen predicts a potential decline for Bitcoin (BTC) and Ethereum (ETH) in September, based on historical data and patterns. He suggests Bitcoin could drop to $23,000, with an average return for September historically being a negative 7.0%. Ethereum, often seen as an indicator for Bitcoin, has shown signs of weakness. Despite this, other cryptocurrencies like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE) may remain unaffected.
August 31, 2023 | 5:07 pm
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NEGATIVE IMPACT
Bitcoin may face a decline in September, potentially dropping to $23,000.
The prediction is based on historical data and patterns, suggesting a bearish outlook for Bitcoin in September.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ethereum, often seen as an indicator for Bitcoin, has shown signs of weakness.
Ethereum's performance is often considered a leading indicator for Bitcoin, and it has already shown signs of weakness.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Despite potential declines in Bitcoin and Ethereum, Dogecoin may remain unaffected.
Dogecoin often follows independent trajectories and can exhibit resilience or volatility irrespective of Bitcoin and Ethereum's market movements.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
Despite potential declines in Bitcoin and Ethereum, Pepe Coin may remain unaffected.
Pepe Coin often follows independent trajectories and can exhibit resilience or volatility irrespective of Bitcoin and Ethereum's market movements.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
Despite potential declines in Bitcoin and Ethereum, Shiba Inu may remain unaffected.
Shiba Inu often follows independent trajectories and can exhibit resilience or volatility irrespective of Bitcoin and Ethereum's market movements.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60