Analyst Predicts Bitcoin Crash Below $100,000, Here’s When

2 hours ago

After hitting a caller all-time precocious supra $24,000, Bitcoin has been incapable to clasp up the momentum and has spiraled backmost down again. In airy of this, crypto expert Doctor Profit has predicted that the Bitcoin terms is really going to autumn beneath $100,000. If this prediction is accurate, past it means that this is lone the opening of the BTC decline, with much crashes expected to hap successful the adjacent future.

September Will Be Bearish For Bitcoin

In an X (formerly Twitter) post, the crypto expert points retired that the Bitcoin terms clang is acold from done. This is particularly arsenic the period of August is racing toward an extremity aft the commencement of the period had been much bullish than not. With the caller period already swimming into view, the expert expects Bitcoin to interruption beneath a large intelligence level.

Doctor Profit explains that the Bitcoin terms correction is expected to proceed and volition bleed into the period of September. What’s much important is the prediction that Bitcoin volition yet clang beneath $100,000 successful September, suggesting that the period volition beryllium dominated by bears.

If this happens, it would beryllium the archetypal clip since June that the terms has crashed beneath $100,000. So far, the cryptocurrency has spent 2 consecutive months supra the $100,000 level, suggesting that this has go a large enactment level for the price.

Despite this prediction, the crypto expert does not judge that the bull marketplace is over. If anything, the clang beneath $100,000 is expected to lone beryllium a impermanent correction before the determination continues. After the crash, Doctor Profit says the bull marketplace volition past proceed again.

Historical Data Supports Bearish Month

Doctor Profit’s prediction that the month of September volition beryllium bearish for Bitcoin and spot the terms clang beneath $100,000 is supported by humanities information showing that the integer plus has usually performed poorly for the month. Using data from the CryptoRank website, we tin spot that 9 retired of the past 14 years person seen the Bitcoin terms adjacent retired the period of September successful the red.

The period is, connected average, the worst successful presumption of mean returns for BTC investors. It shows an mean instrumentality of -5.58% implicit the past 14 years, and a median instrumentality of -4.43%. This means that the period of September is established arsenic a bearish month for Bitcoin, and if this inclination holds, past it is apt that the terms volition clang again.