Since 2017, September has proved unfortunate for the crypto space because the markets have observed a decline, and Bitcoin has repeatedly buckled under great pressure. In accordance with recent studies, through the previous five years, the monthly decline in the worthiness of Bitcoin has averaged 8.5%. The second-largest token, Ether, has battled this too; it has only increased 25% of that time period and typically declined by double digits.
Now, a well-known cryptocurrency trader is voicing a gloomy outlook for Bitcoin (BTC) and the larger digital asset markets.
After examining the wider market turmoil, it really is obvious to see that the complete crypto space is juggling and battling macroeconomic factors. Trading and investing will undoubtedly be challenging in September because of market indecision, in accordance with cryptocurrency analyst Jason Pizzino, who has 275,000 YouTube subscribers.
Indecision will rule September
As predicted by the analyst, they are one of the most challenging moments given that they could be turbulent and rough.
Additionally, he noted that investors can fake good and the bad, believe that the marketplace would rise without them, succumb to FOMO, or sell out because of FUD, or fear, uncertainty, and doubt. Investors could be the most hard hit by most of these factors in September.
It is possible to hopefully save lots of money, pain, and mental energy when you can take out enough time to look at investments properly and grit your teeth for the uncertainty that’s ahead.
No gain, No Pain!
The analyst claims that there will never be any explosive gains soon because of the continued bad crypto market.
Bear continues to be alive. Therefore, that is flipping, albeit there could be some reduced prices.
He also stated he will not foresee the chance of any significant benefits. He also mentioned that there surely is currently no potential for Bitcoin reaching a cost of $40,000 or more.
If that occurs, Ill be glad to be wrong and Ill probably make some cash because I suppose it would disappear completely once again.
However, predicated on historical data, he projected that September won’t see any significant gains.
The worst for Bitcoin, in accordance with Pizzino, has ended since a bull market will soon return.
I really believe that Bitcoin could have already experienced its worst. Clearly, the bull is approaching.
During writing, the cost of bitcoin is $19,922.