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Bitcoin Shows Decline in August: What to Expect in 'Sendtember'

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by Giorgi Kostiuk

an hour ago


Bitcoin's price decreased in August, raising questions about future market trends.

Current Situation in Bitcoin Market

According to TradingView data, Bitcoin declined by 2.07% in August despite reaching an all-time high of $124,533. As of press time, Bitcoin was trading at $113,315, showing a daily drop of 0.28% and a weekly drop of 6.83%. Some experts view the current decline as a healthy correction.

September Predictions

September is traditionally seen as a recovery month for Bitcoin. Analyst Kaleo noted that September has marked a local bottom for Bitcoin four out of the last five years. He predicts that this September could serve as a 'springboard for October', which is known as 'Uptober'.

Historical Trends and Impact on Q4

Historically, September has been a weak month for Bitcoin, averaging a negative return of 5%. However, a positive trend is often observed in Q4, where Bitcoin can show an average gain of 88%.

The situation in the Bitcoin market intrigues analysts, as September may offer opportunities for price recovery based on historical trends.

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