Forex and Crypto News

What experts forecast for Bitcoin in September

13:10 27 August /2019

Bitcoin trades around the important psychological mark of $10,000. What will determine the course of Bitcoin in September and what should we expect?

Experts believe that Bitcoin's prospects depend on which side it will move from the psychological mark. There are different forecasts for a further price.

Now, on the cryptocurrency market, the level of speculative trading is very high. With the price fluctuations in from $500, someone makes very good money. Now, these fluctuations calm down, but the general direction of the market seems positive. By the end of the year, a rate somewhere around $14,000 is possible.

Another analyst recalls that as early as mid-July, the price was at $9,600. According to him, it’s more correct to talk about high volatility, which is due to the high dependence of the asset on the state of the liquidity market in general. Bitcoin is becoming popular among investors who buy all kinds of assets in their speculative portfolios. According to his estimates, by the end of the year, Bitcoin will rise in price by about 20-30%.

Another analyst believes that from September to mid-October, Bitcoin will go up. The technical picture is ideal for resuming of growth rate. If expectations are met, then the price will return to $14,000. Support is at $9,000. If Bitcoin is unable to maintain this line, a new crypto-winter will begin on the market.

One expert highlights some correlation between the Bitcoin exchange rate and the geopolitical situation. As a rule, when an uncertain situation arises in the securities market, investors try to minimize the risks and begin to invest in protective assets such as gold and the Japanese yen. However, cryptocurrency gradually began to transform into a similar asset. It would seem that the riskiest asset becomes protective. According to him, the growth of Bitcoin is quite justified, in the medium term, the price can reach $12,000.

But there are also bearish sentiments in the market. The trade war between the US and China is on the decline, so the demand for Bitcoin as a defense will most likely not receive support. This is also indicated by technical factors. The Bitcoin exchange rate will likely drop to $7500- $8500 this autumn.

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