Cryptocurrency experts predict bitcoin’s fall in September

The well-known cryptocurrency trader RektCapital told his followers on the X platform what could happen to the bitcoin rate in the near future. According to the analyst, the market leader’s quotes could fall to $ 22,000 as early as September.

The cryptocurrency expert studied historical data and evaluated the movement of BTC quotes in previous cycles. RektCapital said that August bitcoin dips are usually the worst. It turned out that the price of the flagship digital coin fell by 17% in August 2014 and by 18% in August 2015. In the same month, the exchange rate was recorded at 16%.

«If the rate had lost 18% in August of this year, the bitcoin exchange rate would have been at about $ 24,700.However, this may not be the most critical level in terms of price correction,» the analyst believes. — «There are two reasons for this. BTC is currently forming a „double top“ on the chart, and the digital coin also tends to record a dip in September.»

According to the expert’s assumptions, the value of BTC will drop by about 10% next month. This will mean that the price of the main cryptocurrency will fall to $ 22,200. Such values will correspond to the «target movement indicator for the breakdown of the double top at $ 22,000.»

As of the morning of Tuesday, August 29, bitcoin showed a slight increase of 0.23% - the asset is trading at $ 26,028 with a market capitalization of $ 506.8 billion. Traders made daily trading deals worth $ 10.82 billion. Bitcoin’s market share is still 48.3%.

In general, the cryptocurrency market capitalization has not changed since yesterday and remains at $ 1.05 trillion. Traders made daily trading deals with digital assets worth $ 23.99 billion, an increase of 31.37%, according to CoinMarketcCap.

As areminder , bitcoin was predicted to make its last drop before a new high. Cryptocurrency analyst Inmortal is convinced that the main virtual coin is preparing for the last downward movement before the start of a new bull market. The expert emphasized that BTC is expected to correct to $ 20,000.