Bitcoin price is been closely watched nowadays by many. The unexpected twists and turns have not only surprised many but also have outspread the uncertain clouds over the upcoming rally. Historically, September has been proven to be the most bearish month of the year. Therefore, many analysts believe the star crypto may reach the bottom soon.
One cryptocurrency analyst also pointed out that September is not so good for Bitcoin and the crypto sector as a whole. The price of BTC usually falls around 6% to 8% in September, but eventually rises notably with the start of Q4 in October.
However, the analyst is still poised to trade between $18,000 & $48,000 after maintaining a sideway trade until April 2024. Further, a huge upswing may en-route the BTC price towards a new ATH. Until then, the analyst believes Bitcoin may not undergo major surges and upswings as SPX is breaking down harder.
On the other hand, pointing to the Ethereum (ETH) price rally, the analyst believes that the price of the merger hype has already been set. The asset has already shown a 100% bounce a couple of times and has been trading sideways since then.
Presently, Bitcoin & Ethereum prices are trading around $20,232.61 & 1520.41 respectively with a jump of 1.10% & 2.23%.The upcoming monthly close is also expected to be bullish and settle above $22,500 & $1700 in order to begin the Q4 trade on a bullish note.
