Closing Battle – The Bitcoin (BTC) price forays above $20,000. The month of September is finally ending with a taste of uncertainty over the period, while the green statistics for the fourth quarter could be called into question by inflation in the red.
This Bitcoin price analysis is brought to you in collaboration with CryptoTrader™ and its algorithmic trading solution finally accessible to individuals.
The effort of the bulls as they approach a significant close
The price of bitcoin goes up to $20,171 on Bitfinex today, September 30, 2022, before losing the $20,000. The cryptocurrency is trading at $19,713 at the time of writing. Its price is currently registering a daily gain of 1.57%.
The monthly close is hours away, and bulls can still defend support around $19,700, a level that roughly matches the December 2020 opening price. near this level.
On a monthly basis, Bitcoin may still close slightly in the green, if it manages to get closer to $20,100 again in the coming hours. Currently, the monthly close is slightly in favor of the bears.
The monthly candlestick is mostly close to a doji. September could finally reflect market indecisionwhich have so far escaped a bottom in this cycle, which would be below last June’s low.
The price of Bitcoin soon in the green: will inflation prove the statistics wrong?
Hopes for a strong technical rebound for Bitcoin price now lie in the fourth quarter. According to historical data, Bitcoin records “ an average quarterly return of +103.9% » over the period, according analyst William Clemente.
October and November saw Bitcoin’s best performance, with average gains of 24% and 58% respectively.
Despite these encouraging figures, William Clemente nevertheless raises a particularly pertinent question in the following context: Does seasonality matter? ? We will see “.
The markets could record performances that would be well below these figures, with inflation that central banks are struggling to control both in the United States and in Europe.
Bitcoin is always found in the turmoil of the economic crisis. The fourth quarter of all hopes, may very well become that of the big disappointment this year.
Do you want to invest in the cryptocurrency sector? CryptoTrader™ and its 100% automated algorithmic trading tool are there to allow you to do so in the best possible conditions.