BTC remains below $60,000, and Personal Consumption Expenditures (PCE) data did not help boost the price. Let's see what awaits Bitcoin in September and what predictions analysts make.
Bitcoin (BTC) Situation
Personal Consumption Expenditures (PCE) data did not change the situation in crypto. Although it strengthened September rate cut predictions by coming in just below expectations, this was already confirmed. Investors cannot reach the expected demand point at higher levels for BTC, which feeds the motivation for quick profit sales from investors accustomed to rapid losses.
Bitcoin September Forecast
Popular crypto analyst Crypto Ed is not very hopeful about the market due to closures below $62,000. He also emphasizes that motivation for a rise will not revive unless this key region is surpassed.
Analysts' Market View
Crypto Ed also highlighted the fractal from August 2023, when the price made a strong dip at $25,000 before the last quarter's rise. Considering the historically weak performance of the third quarter, this may mean we might not see the good movements we expect in crypto in September. At the same time, analyst Josh Rager compares the current movement to 2020, drawing attention to the relationship between stocks and BTC.
Analysts agree that the current period of low market activity may persist for some time, especially if the key levels are not overcome and the long-awaited growth does not follow.
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