Bitcoin Price Prediction For September Goes Lower And Lower
Last Updated on 4 September 2022 by CryptoTips.eu
September is historically a very bad month for both stock and crypto markets. Now, as Russia’s war in Ukraine continues and both the ECB and the Fed are expected to announce rate increases, we could be looking at a disaster apparently.
Bitcoin fans are falling over each other to predict ever lower Bitcoin bottoms. Why? Let’s take a look.
Rate hike
Both the European Central Bank and the US Federal Reserve are expected to announce further interest rate hikes this month order to slow the growing economies of the West. In doing so, they could (theoretically) bring down inflation. Most economists say that the probability of a 75 basis points rate hike is 67% for the US and some 60% for the EU.
That would probably mean lower stock markets, as investors tend to go risk-off when interest rates rise, and possible lower Bitcoin prices, as the crypto markets remain highly correlated with stock markets.
#Bitcoin 1-year trailing return has been a good indicator of bottoms. According to this, the bottom is not in yet, but might likely be before the end of this year. 2023 looks like a rebound year in many respects. pic.twitter.com/8kfTBVAHqS
— Timothy Peterson (@nsquaredmacro) September 3, 2022
But how low can they go? Well, the stock markets at this point is anybody’s guess, but they could have some way to fall still. As to crypto markets, the Bitcoin fans are setting targets for September’s end already, and they are not pretty.
$BTC main idea
— il Capo Of Crypto (@CryptoCapo_) August 27, 2022
Resistances: 22500 and 23000. Expecting a bounce to one of these levels for a short squeeze. That would also trap longs again, since it would be an aggressive move.
Support: $19k. Break below here and it goes straight to new lows.
Main target: $16k pic.twitter.com/wFbVvBmHYO
Most famous of them all is the Capo of Crypto, who’s been predicting very accurately as of late. If he is to be believed then the downside band of anywhere between $16,000 and $19,000 is now in play.
Everything you need to know about the markets and what scenarios you could be trading on #Bitcoin and #Ethereum.
— Michaël van de Poppe (@CryptoMichNL) September 2, 2022
Check the update here:https://t.co/VpOBf3ynVf
Dutch analyst Michael van de Poppe, also known as Cryptomich did an analysis as well and admitted that a drop to $12,000 was now possible. That would be scary it true. We’ll see at the end of the September whether they were right.
