Crypto Expert Urges Bitcoin Investors to Hang On a Bit Longer

Following its peak in March 2024, the value of Bitcoin (BTC) has declined, struggling to maintain consistent upward momentum and leading to lowered investor hopes for a significant bull rally post-halving event. Yet, a crypto analyst suggests a silver lining, urging investors to stay patient despite the market’s downturn, as the upcoming months may bring a bullish shift for Bitcoin.

A Glimmer of Optimism for Crypto Investors

As noted by numerous crypto analysts, September has historically presented significant challenges for Bitcoin, marked by intense downward pressure, volatility, and instability. Rekt Capital, a crypto analyst, informed his audience of over 500,000 on X (formerly Twitter) that Bitcoin’s value has dropped by roughly 8% this September.

He pointed out that in previous years, the cryptocurrency experienced similar price drops, with decreases ranging from 5% to 7% in September of 2021, 2020, 2017, and 2018. According to the analyst, this price reduction is typical, as BTC generally struggles during this month.

In light of this consistent downtrend, a crypto expert known as ‘Unipcs’ has offered a beacon of hope to those facing recent substantial price declines in Bitcoin. Unipcs stated that historically, October and November have been markedly positive and bullish for crypto prices, exhibiting significant upward movements.

The analyst observed that this year’s market cycle aligns with trends from previous years, where Bitcoin consistently sees declines in September followed by an upturn in October. Drawing from this historical precedent, Unipcs predicts a significant rebound for Bitcoin in the coming months.

He has encouraged investors to hold on a little longer and maintain their investments in BTC, as he believes the market is poised to become more favorable and lucrative soon. The analyst’s forecasts resonate with many other crypto specialists, who also note the recurring trend of declining Bitcoin prices in September.

Rob Inhoods, a crypto enthusiast and analyst, revealed that Bitcoin has only concluded September positively on three occasions since 2012. Each instance was followed by a major upward rally in October, November, and December.

Crypto Rover, a notable Bitcoin YouTuber, also informed his 825,700 followers on X that September tends to be the worst month for BTC, with October and November often being the best.

Bitcoin’s Recovery After Months of Decline

On September 10, Santiment, a market intelligence platform, revealed a notable shift in Bitcoin’s price dynamics. Reports indicate that BTC’s market value is starting to rise after experiencing a series of declines and minor fluctuations since its halving on April 20, 2024.

The cryptocurrency reached a peak price of $57,600 on September 9, marking an increase of over 4.8% within a 24-hour period. Despite this notable price jump, traders remain skeptical and are shorting markets on various crypto exchanges like Binance and BitMEX.

Nonetheless, Santiment maintains a bullish outlook, suggesting that traders’ Fear, Uncertainty, and Doubt (FUD) may indeed fuel additional increase in Bitcoin’s prices. At the time of writing, BTC is trading at $57,202, reflecting a 4.14% increase in value, as per CoinMarketCap.