Since 2017, September has proved unfortunate for the crypto space as the markets have seen a decline, and Bitcoin has repeatedly buckled under pressure. According to recent studies, during the previous five years, the monthly decline in the value of Bitcoin has averaged 8.5%. The second-largest token, Ether, has battled this too; it has only increased 25% of the time and typically declined by double digits.
Now, a well-known cryptocurrency trader is voicing a gloomy outlook for Bitcoin (BTC) and the bigger digital asset markets.
After examining the wider market turmoil, it is clear to see that the entire crypto space is juggling and battling macroeconomic factors. Trading and investing will be challenging in September due to market “indecision,” according to cryptocurrency analyst Jason Pizzino, who has 275,000 YouTube subscribers.
Indecision will rule September
As predicted by the analyst, these are some of the most challenging moments since they can be turbulent and rough.
Additionally, he noted that investors can fake ups and downs, believe that the market would rise without them, succumb to FOMO, or sell out due to FUD, or fear, uncertainty, and doubt. Investors may be the most hard hit by all of these factors in September.
You can hopefully save a lot of money, pain, and mental energy if you can take out the time to examine investments properly and brace yourself for the uncertainty that is to come.
No gain, No Pain!
The analyst claims that there will not be any “explosive gains” in the near future due to the continued bad crypto market.
“Bear is still alive. Therefore, this is flipping, albeit there may be some reduced prices.”
He also stated that he does not foresee the possibility of any significant benefits. He also mentioned that there is currently no chance of Bitcoin reaching a price of $40,000 or higher.
“If that happens, I’ll be glad to be wrong and I’ll probably make some money because I assume it would go away once more.”
However, based on historical data, he projected that September will not see any significant gains.
The worst for Bitcoin, according to Pizzino, is over since a bull market will soon return.
“I believe that Bitcoin may have already experienced its worst. Clearly, the bull is approaching.”
At the time of writing, the price of bitcoin is $19,922.
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Source: https://coinpedia.org/news/crypto-market-could-face-a-merciless-september-heres-what-traders-can-expect/