Bitcoin Could Slip In September Before Q4 Rally, Cycle Data Shows
Bitcoin has bounced back above $112,000 after slipping to $107,000 last week, its lowest mark since July. The rebound has stirred hope among traders, but analysts remain split on whether the current upswing can hold through September. Related Reading: XRP Faces Crucial Test With ETF Approval Chances Now At 87% September’s Track Record Under Scrutiny Historical data shows September hasn’t been kind to Bitcoin during post-halving years. In 2017, the coin ended the month with a close to 8% loss, while in 2021 the decline was 7%. Even further back, in 2013, Bitcoin dropped 1.60% in the same....
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Following a lackluster week that saw non-fungible token (NFT) sales slip by 29.35% last week, the last seven days of NFT sales have dropped further losing more than 7%. Out of 12 different NFT-supporting blockchains, Solana was the only gainer, in terms of NFT sales during the past week. NFT Sales Slip Lower Following Last Week’s Lackluster Market Action While cryptocurrency markets have faced extreme volatility during the last two weeks, NFT sales, in general, have felt the wrath of the storm. On February 16, Bitcoin.com News reported on sales sliding by 29.35% and nine days later,....
According to a new technical analysis, Bitcoin (BTC) and the broader crypto market could be mirroring historical post-halving cycle patterns. While the market has previously rallied through July and August, historical fractals point to a potential crash in September, followed by a push into a cycle peak later in the year. Related Reading: Trump Coin Jumps 10% On Canary Capital ETF Filing: Details September Proves Risky For Bitcoin And Crypto Market A recent X social media post by crypto analyst Benjamin Cowen has highlighted a recurring pattern in Bitcoin’s price action that could have....
According to a CryptoQuant analyst, the Bitcoin price top isn’t in yet if the pattern of past bull cycles holds any weight. Bitcoin Might Reach A New ATH In This Cycle As per a CryptoQuant post, it’s possible that Bitcoin hasn’t yet reached the cycle top, and that a new all time high (ATH) might be achieved soon. There are two ways to define a cycle. The first is to make the initial point the BTC halving. Here is a chart that shows how the price of the coin moved in the 2012, 2016, and 2020 bull cycles based on this criterion: Price vs the number of days after halving in....
Dogecoin could see its first meaningful turn higher around September 13, according to crypto analyst VisionPulsed, who argues the current drawdown fits a post-halving template in which markets remain weak until roughly 510–511 days after Bitcoin’s supply cut before staging a final run. In a video published on September 1, he told viewers, “I would argue starting around September 13th, the selling may subside… 511 days post halving last cycle, we were already going back up. 511 days post halving the cycle before that we were already going back up.” Dogecoin Pain May End September 13 The....
The price of Bitcoin has surpassed $14,700 on Nov. 5 as the steep uptrend coincides with several familiar metrics and on-chain data points seen in 2017. From November to December in 2017, the price of Bitcoin (BTC) experienced a parabolic uptrend to a new all-time high at $20,000.There are three reasons Bitcoin might see a similar trend in the upcoming months. First, the post-halving cycle is coming into effect. Second, the relative strength index (RSI) shows room for a bigger rally. Third, the rally is not overheated, at least in the derivatives market.Long-term RSI shows Bitcoin not....