đ Bitcoin September Outlook - Analysis
For September, Bitcoinâs price range is projected between $46,000 and $70,000. The cryptocurrency closed its monthly candle at $58,975, marking an 8.75% correction and the lowest monthly close in the past 6 months.
Market Context:
- US Stocks: Closed near all-time highs
- Bitcoin: Closed at a 6-month low
This discrepancy highlights a potential conflictâeither US stocks are overvalued or Bitcoin is undervalued. Historically, September tends to be a bearish month for Bitcoin.
Over the last 7 years:
- Six times: Bitcoin experienced negative returns in September.
- Max negative correction: 13% in 2019.
- Max positive movement: 4% in 2023.
Major Events to Watch:
- US Election: November 5
- FOMC Meeting: Upcoming dates TBD
- CPI Data: Monthly
- Job Data: Monthly
- Change in M2 Money Supply: Ongoing
Stay tuned and follow @Professor Mende - Bonuz Ecosystem Founder for updates and adjustments as these events unfold!
