A widely followed crypto trader is expressing bearish sentiment for Bitcoin (BTC) and the larger digital assets markets in September.
Crypto analyst Jason Pizzino tells his 275,000 YouTube subscribers that traders and investors will have a difficult period in September owing to market “indecision.”
“September is going to be indecision.
These times are some of the most difficult because they can be choppy and churning.
Getting faked-out ups and downs, thinking that the market is going to take off without you, getting sucked into the FOMO [fear of missing out], then dropping out in terms of the FUD [fear, uncertainty and doubt].
If we can avoid those and understand that there is a very big possibility of that coming up in September, then hopefully that can save us a lot of money and heartache and brain power.”
According to the analyst, the crypto bear market is not over and there are unlikely to be any “explosive gains” over the short term.
“Bear not over yet. So this is the flipping but there could be some lower prices…
I don’t see there being any explosive gains, generally speaking. And of course for Bitcoin, I can’t see this thing going up to $40,000 or so.
Happy to be wrong and I will probably take some profits if it did do that because I guess it would fade out again.
But yeah, overall from what I’ve seen in the past in the data, no explosive gains in September.”
However, Pizzino says that the worst is over for Bitcoin as a bull market will return eventually.
“I think the worst is potentially over for Bitcoin. The bull is obviously coming…”
Bitcoin is trading at $19,922 at time of writing.
https://www.youtube.com/watch?v=FIG38iBR7LM
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Source: https://dailyhodl.com/2022/09/02/popular-analyst-jason-pizzino-issues-crypto-market-warning-for-difficult-september/