September has been a historically challenging month for the crypto market.
Reputed analysts raise their voices to preach resilience amidst a time of low sentiment.
They see the start of a huge bear trap and remind traders and investors to remain strong.
The price of Bitcoin (BTC) continues to dip as the crypto market traverses through day 2 of the historically challenging month of September. A few analyts expect BTC price to dip below the $40,000 price range drying out sentiment for a new BTC ATH to play out this crypto bull cycle.
Dissecting the Challenges of September
As the market dips and altcoin prices plunge alongside Bitcoin (BTC), several crypto analysts look towards historic data to remind traders to look at the bigger picture. Every year, and every cycle, a similar pattern has played out so far. The month of September has always been a crucial month with crypto performing at the lower end of the bar.
However, following the September dips is when Bitcoin and altcoins usually come out a lot stronger. More interestingly, during a bull run phase in a bull cycle year, the price of Bitcoin and altcoins have surged to paraplegic highs after the September dip. Many analysts expect this scenario to play out once again.
https://twitter.com/AltcoinDailyio/status/1830292067878359444
For instance, the silver-tongued analyst, Doctor Profit, known for his many accurate predictions is strongly advocating traders to buy dips or hold strong to their favorite crypto assets. In his eyes, a huge bear trap is playing out.
Exploring the Opportunities September Could Unleash
According to Doctor Profit, market makers are trying to shake out weak holders before they allow the parabolic pump to play out. Based on the historical charts above, September is usually a challenging month for crypto and market makers are taking advantage of this fact.
https://twitter.com/DrProfitCrypto/status/1830265258264695276
As we can see from the post above, Doctor Profit encourages holders to remain resolute and stay calm. He sees that many are losing hope as sentiment is down, but he reminds holders to not play into the hands of market makers.
Another popular crypto analyst, LadyofCrypto, has also been preaching much the same. She says its another cycle mirroring the previous cycles and encourages traders to look at the bigger picture, remain strong, and prepare for face-melting rally after the dip plays out.
The post The Historically Challenging Month of September Begins, What Will the Crypto Market Yield This Year? appeared first on Crypto News Land.
