September, historically known as a bearish month for Bitcoin, started with a decline. BTC, which started the month at a decline to $57,000 levels, recovered to above $59,000 in the last 24 hours.
Decline at the Beginning of the Month
The beginning of September brought a drop in Bitcoin price to $57,000. However, in the last 24 hours, a recovery above the $59,000 level was observed.
CryptoQuant Analysts' Predictions
CryptoQuant analysts predict that BTC will close September at $55,000. Senior CryptoQuant analyst Julio Moreno stated in his post on the X platform that he simulated Bitcoin's price behavior using historical data for September. Moreno noted:
Conclusion
For the analysis, Moreno only considered the historical daily returns for September, leading to the forecast of the month closing at $55,000 with a possible price range from $44,000 to $66,000.
September is traditionally known as a bearish month for Bitcoin, and current analyst forecasts confirm this trend. Investors should take this data into account when making decisions.
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