The cryptocurrency market usually demonstrates the worst results in September, experts drew attention. Observations of analytical platforms, such as
Coinglassdemonstrate that the seasonal effect of the “Red September” was more often repeated than not:
From 2013 to 2024, Bitcoin showed a collapse eight times in the first month of autumn – with an average decrease in the price of 3.77%. However, now the market indicators signal the probability of deeper subsidence, since the first cryptocurrency has pierced the support level of $ 110,000 in a 50-day sliding average. Military conflicts in Europe and the Middle East, US trade policy and violations of supply chains add new causes of instability, writes Decrypt.
The interlocutors of Decrypt suggested that the problems of the “Red September” are to a greater extent the result of psychological anomalies and do not correspond to real market signals.
“Red September has turned into an annual psychological experiment. We observe how the whole market is pushing itself to the sale, based on historical data, and not on current fundamental indicators, ”said Yuri Berg, Swiss supplier consultant of the Swiss supplier of the Fincchtrade.
Berg, the general director of the Dyor Ben Kurland platform (Ben Kurland) agreed with the conclusions.
“After several years of September sales, the cryptocurrency community itself taught itself to expect weakness. This creates a self -stinging cycle in which the fear of the fall turns into a fall. If the prospects seem gloomy, do not worry: after the red September of September, October will come, which historically is the best month of the year for Bitcoin, ”Curland advised.
The head of Dyor believes that the seasonal trend can weaken as “cryptocurrencies grow up”, and “an influx of institutional investments in the cryptolay” is now deeper than ever.
On the eve of the analytics of the BitWise investment company, they published a long -term forecast for bitcoin, where it was assumed that the first cryptocurrencies could reach $ 1.3 million by 2035. The reasons for the analysts called the limited BTC proposal and the high demand of large companies.
Source: Bits
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