{"id":16742,"date":"2024-09-06T12:45:00","date_gmt":"2024-09-06T09:45:00","guid":{"rendered":"https:\/\/forklog.com\/en\/diverging-views-on-bitcoins-september-prospects\/"},"modified":"2024-09-06T12:45:00","modified_gmt":"2024-09-06T09:45:00","slug":"diverging-views-on-bitcoins-september-prospects","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/diverging-views-on-bitcoins-september-prospects\/","title":{"rendered":"Diverging Views on Bitcoin&#8217;s September Prospects"},"content":{"rendered":"<p>The reduction of the <span data-descr=\"Federal Reserve System of the USA\" class=\"old_tooltip\">Federal Reserve&#8217;s<\/span> key interest rate and the resilience of the US economy in September may have a greater impact on Bitcoin&#8217;s price than the typically negative seasonality of this month. This was stated by <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-september-gains-may-surprise-bears\">Cointelegraph<\/a> by Tyr Capital&#8217;s <span data-descr=\"Chief Investment Officer\" class=\"old_tooltip\">CIO<\/span> Ed Hindi.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;The chances of the first cryptocurrency closing the month above $60,000 are greater than it falling below this level,&#8221;<\/em> added Hindi.<\/p>\n<\/blockquote>\n<p>Former BitMEX CEO Arthur Hayes maintains a bearish stance at least until the Federal Reserve meeting on September 18.<\/p>\n<p>The expert confirmed his forecast for Bitcoin to drop to $50,000 and clarified that the quotes could reach this target as early as the coming weekend. This implies a 10.5% decline from the value at the time of writing ($55,830).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> is heavy, I\u2019m gunning for sub $50k this weekend. I took a cheeky short. Pray for my soul, for I am a degen.<\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1831866865846776035?ref_src=twsrc%5Etfw\">September 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;I took a cheeky short. Pray for my soul, for I am a degen,&#8221;<\/em> he wrote.<\/p>\n<\/blockquote>\n<p>On September 6, the Fear and Greed Index fell to <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">22<\/a>, entering the &#8220;extreme fear&#8221; zone. The previous day, the indicator was at 29 points.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1194.webp\" alt=\"1-1194\" class=\"wp-image-240546\"\/><figcaption class=\"wp-element-caption\">Fear and Greed Index. Data: Alternative.<\/figcaption><\/figure>\n<p>Historically, digital gold has depreciated by an average of 4.5% in September. Since 2013, positive dynamics have been recorded in three out of 11 instances.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-885.webp\" alt=\"2-885\" class=\"wp-image-240547\"\/><figcaption class=\"wp-element-caption\">Data: Coinglass.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\"><strong>Short, then Long?<\/strong><\/h2>\n<p>Some experts have urged not to forget about the upcoming <span data-descr=\"term formed from two English words: up and October\" class=\"old_tooltip\">Uptober<\/span>. Among them is a trader known as Ali. He reminded that October is known as one of the best months for Bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Even though September has historically been a rough month for <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>, keep in mind that October is just around the corner. Often called &#8220;Uptober,&#8221; it&#8217;s known as one of the best months for <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>. <a href=\"https:\/\/t.co\/UzwXuT9CNc\">pic.twitter.com\/UzwXuT9CNc<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1831809028135309748?ref_src=twsrc%5Etfw\">September 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In previous years, digital gold appreciated in nine out of 11 instances in the second month of autumn, with an average increase of 22.9%.<\/p>\n<p>Lookonchain noted the activity of one of the largest Bitcoin whales, who accumulated coins worth over $500 million. Specialists recorded a new transaction of 322.37 BTC (~$19 million).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This whale bought 322.37 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>($19M) again 1 hour ago.<\/p>\n<p>He bought 2,322.37 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>($136M) in 5 days and currently holds 8,881 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>($523M).<\/p>\n<p>Address:<br \/>3G98jSULfhrES1J9HKfZdDjXx1sTNvHkhN <a href=\"https:\/\/t.co\/JcdZGaqYJy\">pic.twitter.com\/JcdZGaqYJy<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1830904073341804575?ref_src=twsrc%5Etfw\">September 3, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;In five days, he bought 2,322.37 BTC (~$136 million) and currently holds 8,881 BTC (~$523 million),&#8221;<\/em> they assessed.<\/p>\n<\/blockquote>\n<p>Bitfinex has suggested that the price of the first cryptocurrency could fall to $40,000.<\/p>\n<p>Earlier, QCP Capital proposed buying digital gold during corrections throughout September, with a view to taking profits in October or towards the end of the year, considering its seasonality.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The reduction of the Federal Reserve&#8217;s key interest rate and the resilience of the US economy in September may have a greater impact on Bitcoin&#8217;s price than the typically negative seasonality of this month. This was stated by Cointelegraph by Tyr Capital&#8217;s CIO Ed Hindi. &#8220;The chances of the first cryptocurrency closing the month above [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1146,1249,1224],"class_list":["post-16742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-market-forecasts","tag-federal-reserve-system","tag-macroeconomics"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=16742"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16741"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}