Historically, September has not been the best month for Bitcoin. On average, the month has seen a -4.69% decline in returns, which has left many investors worried. However, this could all change in 2024. Current technical indicators, such as retests of support levels and accumulation at key price levels, point to a possible price breakout in the coming weeks.
What could be the catalyst for growth?
Factors contributing to this scenario include expectations of monetary easing from the US Federal Reserve. An important Fed meeting is scheduled for September 18, where interest rates may be cut. If this happens, high-risk assets such as cryptocurrencies may receive a new impetus for growth due to increased liquidity in the market and increased demand from investors.
Additionally, October has historically been a good month for Bitcoin, with an average gain of +22.9% in October, making this period particularly interesting for long-term investors.
Why is Bitcoin worth paying attention to now?
Many analysts predict that the price of Bitcoin could reach $92,000 by the end of September or early October, which creates a great opportunity to enter the market. Those who are ready to take advantage of this trend could lock in significant profits within a few weeks if the forecasts are correct.
Conclusion:
Bitcoin is once again on the verge of a significant move, and September 2024 could be a significant starting point for its next round of growth. Despite the historical risks, many analysts are confident that current macroeconomic factors could play into the hands of crypto investors. Now might be a good time to consider buying $BTC and prepare for a possible breakout in price.
