Some market experts think that Bitcoin could be about to start a historic three-month rise that could send the price of the cryptocurrency over $92,000. After going down for months, this might be the last big chance to buy BTC before its next big price jump.
On its weekly chart, BTC has shown signs of rebound after a big retest of a key support level. The price of the coin rose above the important psychological level of $60,000 again on September 14.
It hadn’t been above that level since August 30. The rebound has given the market hope, especially since Bitstamp data shows that Bitcoin’s price has dropped by over 9% in the last three months.
Titan of Crypto, a well-known crypto expert, thinks that this recent price change is a key sign of a possible rally. The expert said in a September 13 post on X (formerly Twitter) that Bitcoin’s retest could be the start of a price rally that takes it above $90,000.
According to CoinGlass data, September has historically been a bad month for Bitcoin, with an average loss of 4.69%. Still, past behavior suggests the BTC might start a long-term rebound. BTC has always risen three months running, after falling in September.
For October, average rises were 22.9%; for November, 46.8%; and for December, 5.4%). Regarding BTC, these have been among the best months ever; price development has been really interesting.
Bitcoin Set for 3-Month Rally, Analysts Predict Breakout Above $92K
Analyzes find parallels between 2020, the year the value of BTC dropped midway. A part of a larger overall spike into early 2021, the price rose more than 27% in October and more than 42% in November that year.
Given Bitcoin’s beginning to show indications of recovery, some traders believe this could be the last drop before a significant price increase. Well-known Bitcoin trader Magnet called the present decline a “last potential buying opportunity” before Bitcoin’s next boom.
An unidentified on-chain expert known as *Checkmate* agreed upon this and also pointed out that the current status of Bitcoin’s market mirrored historical bull cycles. Checkmate advised that BTC is still in its “anxiety stage,” so even with potential it might fall significantly further in September.
While short-term volatility still concern market watchers, the September 18 Federal Reserve meeting could be a turning point for BTC. Some analysts believe that the conference, which could clarify American interest rate policy, signals the beginning of Bitcoin’s next most significant climb.
Investors and traders keep close eye on the next few weeks to see whether BTC will follow past trends and launch an unheard-of explosion The value of Bitcoin ranges from $60,000.
