Crypto analyst Benjamin Cowen has warned that Bitcoin (BTC) could experience a major market correction in September. Cowen, who has 762,500 followers on the social media platform X, believes that Bitcoin could drop by more than 16% from its current value.Cowen shared a chart that shows September is the most bearish month for Bitcoin in terms of average returns. He highlighted that Bitcoin printed significant losses in September 2019, the most recent pre-halving year, and this September falls in another pre-halving year. According to Cowen, the average return for Bitcoin in September is -7%.Cowen also noted that Bitcoin could bounce and print lower highs amid the overall trend to the downside, similar to the price action in September 2019. He said that even in 2019, Bitcoin first went up a bit in September, only to roll over at the end of it.Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. It is important to note that transfers and trades are at your own risk, and any losses you may incur are your responsibility.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | negative |
| Relevance Score | 8 |
| People | X, Benjamin Cowen, Cowen |
| Companies | Twitter, Stochastic Process, Benjamin Cowen, Exponential Moving Average (EMA), Telegram, Bitcoin (BTC), Facebook, X, Simple Moving Average (SMA) |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
