The post Bitcoin Price Prediction For September: Will BTC Price Drop To $22k Coming Month? appeared first on Coinpedia Fintech News
The price of Bitcoin (BTC) could be primed for a significant drop in the coming weeks, according to a recent analysis from crypto market expert Rekt Capital.
Rekt Capital examined historical data and chart patterns to assess the likelihood of a potential plunge for the leading cryptocurrency. In a tweet, Rekt Capital noted that Bitcoin tends to see double-digit percentage drawdowns in August and September, implying further declines may be imminent.
Could Bitcoin Crash to $22,000 In September?
To answer this question, we need to first focus on August
What was the worst #BTC August drawdown in history?
-17% in 2014 and -18% in 2015
Currently in 2023, $BTC is now down -16%
If BTC were to drop -18% this August, BTC would… pic.twitter.com/58pJKUwvHj
— Rekt Capital (@rektcapital) August 24, 2023
Looking Back at Worst-Case Scenarios
To gauge downside risks,
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