In late August, Bitcoin showed price declines again, while Ethereum experienced significant growth. This kind of dynamic keeps traders expecting developments in September.
Price Fluctuations of Bitcoin and Ethereum
In August, Bitcoin dropped by 7%, while Ethereum increased by 17%. Over the past two months, Bitcoin’s price has hardly changed, whereas Ethereum surged by 74%. Amid this, Bitcoin's market dominance decreased by over 5%.
Predictions for September
Some traders expect a short-lived comeback for Bitcoin in September, especially if market conditions remain volatile. Traditionally, September is not a good month for Bitcoin, but subsequent October months usually show positive results. Since 2013, Bitcoin has posted an average gain of 21% in October.
Investor Impact on the Market
With declining interest from retail investors, some market representatives suggest that Bitcoin may regain a more significant position in the cryptocurrency market. Matthew Sigel of VanEck believes that support from ETFs and accumulation by long-term holders could also bolster Bitcoin.
At this point, Bitcoin and Ethereum continue to show different trends, leaving investors awaiting upcoming changes. September could prove to be a decisive month for the future dynamics of both assets.
