Tough Times in the Market
I’m back in France after some vacation. While I have still been following the market, it’s clear that we aren’t in a time of euphoria. We keep seeing dips; every time the price goes up a little, it’s just a matter of time before it drops even harder. In this article, let’s take a look at how Bitcoin might react in this important month of September.
Cryptomarket Situation
With Bitcoin, the situation remains the same as the months go by. We are in a clear downward range channel :
It’s been more than 175 days, and it’s getting a bit boring for everyone. But remember one thing: the longer we stay in this range, the bigger the eventual breakout will be, and I strongly believe it will be a bullish one.
For altcoins, it’s much worse, with some of them at bear market levels (yes, I’m talking about you, $ATOM and $MATIC). Most of them are still far from their all-time highs. However, I see this as a second chance for those who may have missed the first wave of impulsion. But in the end, it all comes down to money management. Don’t invest everything now, and definitely not in just one coin.
Market News
As I write this, the unemployment numbers in the US have come in at 4.2%, just as forecasted. However, we saw fewer jobs created, which is why both the stock and crypto markets are currently dumping.
It’s also important to keep in mind that we’re in a phase of uncertainty, with the first presidential debate between Trump and Harris coming up soon on September 10th. Investors see the outcome of the election as very uncertain. Kamala Harris potentially becoming president may worry investors, as it could lead to tax increases.
Additionally, there’s the FED pivot expected to happen on September 18th. While it will be important for the long term, it might trigger bearish momentum in the short term if investors view it as a premature attempt to boost the economy.
All of these factors make the crypto market a challenging place to be right now.
As always thank you for reading !
My favorite Crypto Faucet : Cointiply (referral)
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Disclaimer : This is not a financial advice, you need to do your own research !
