The September Curse And How It’s Preparing Bitcoin For Another Rally
Bitcoin has suffered heavy losses along with most of the crypto market following the flash crash that happened on El Salvador’s “Bitcoin Day”. The digital asset has been trying to recover from this loss since it occurred two days ago on September 7th. Part of the cause of the crash has been attributed to a “buy the rumor, sell the news” event triggered by the adoption of bitcoin by El Salvador. But the charts show another factor that led to the crash. Related Reading | Standard Chartered Takes Bullish Stand On Ethereum, Puts Price At $35,000 If anything, the official implementation of....
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September has been a historically bearish month for bitcoin and the rest of the crypto market by extension. Back in 2021, bitcoin’s deviation from expected market trends had sparked hope that it would break the September curse, but alas, it followed it to a T. This is why with the new month already ushered in, there are expectations that the price of BTC will continue to dive and likely reach lower trends as it enters the worst of the bear market. Analyst Says Brace For Impact One of those who have referred to the September curse in their analysis of the price of bitcoin is Scott Redler,....
Cardano smart contracts upgrade is almost upon us. With just three days left, there is a lot of speculation as to what the price of the digital asset will do until then. The weeks leading up to the launch have seen the asset hit multiple new all-time highs. That is until the crash that rocked the market on September 7th. Cardano suffered an 18% flash crash that saw it lose most of its gains for the previous weeks. Now, with the market still reeling from the crash, the digital asset has begun to regain some of the lost value. But at a much slower pace. One news that has helped to hold the....
Days back, Dogecoin, the largest dog-themed meme coin, witnessed a notable setback, causing a sharp drop in its price to critical support levels. Despite the recent waning performances, several key developments suggest that DOGE might be preparing for its next major rally to new heights in the short term. A Robust Rally To Higher Levels […]
Bitcoin price surged above $11,000 and $11,200 against the US Dollar. BTC is now consolidating gains and it seems to be preparing for another rally above $11,500. Bitcoin is showing positive signs and it is trading nicely above the $11,200 support level. The price is facing a short-term resistance at $11,420, but it is above […]
The flagship cryptocurrency has closed October in profits seven out of nine times since 2013, raising hopes that it would be able to log a fractal bull run in the next 31 days. Bitcoin (BTC) failed to break the so-called September curse as its price fell by a little over 7% into the month despite a strong rebound rally right ahead of its close. Nonetheless, Bitcoin looks to be making a comeback in October, a month known for painting aggressive bullish reversals.Bybt data shows that Bitcoin has closed October in profits the majority of the time since 2013 — with a success rate of over 77%.....