Bitcoin Price Prediction For September: Is BTC Price Bracing for a Bloodbath?
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As August bids farewell and September emerges on the horizon, the cryptocurrency world is bracing itself for what many experts consider to be a historically turbulent month for Bitcoin. With recent price surges capturing headlines, the question of whether Bitcoin can sustain its momentum or face a downturn looms large. Among the skeptics is Benjamin Cowen, a prominent crypto analyst with a substantial YouTube following, who holds a bearish view of Bitcoin’s performance in the coming month, predicting a potential drop to as low as $12,000.
Cowen’s Bleak Bitcoin Forecast for September – Could $12K Be on the Horizon?
Despite recent market recoveries, Cowen remains pessimistic about Bitcoin’s immediate trajectory. He points to historical patterns of bearish price movements observed during pre-halving years and questions whether this time will defy the norm. Cowen’s doubts extend into the final quarter of the pre-halving year, as he speculates that Bitcoin may not maintain its upward momentum.
Cowen’s outlook for the fourth quarter suggests that Bitcoin’s price may be constrained within a specific range. This range is defined by the previous peak witnessed in May 2022 at the top and a recorded price from November 2020 at the bottom. He asserts that 2023 is likely to follow the established pattern of about half the year being characterized by upward movement and the other half by downward movement.
Bitcoin’s Price Range in 2023: $12,000 to $35,000
Cowen further elaborates on his analysis by indicating that Bitcoin’s price action in 2023 could be contained within the bounds of $12,000 to $35,000. While he doesn’t foresee a dip below the $12,000 mark, he suggests that the peak observed in July, approximately at $31,800, might mark the high point for Bitcoin’s value this year. According to Cowen, the remainder of the year could mirror the historical pattern of alternating between upward and downward price trends.
