Bitcoin investors are waiting for a roller coaster. Although the story shows that September is usually an agitated month for Bitcoin, two ETF analysts have suggested investors who are attentive in mid-October as the next “important days to monitor”.
According to historical data, Bitcoin monthly yields have closed in red numbers at the end of September nine times during the last 13 years.
The well-known cryptocurrency Analyst Will Clemente informed its 689,000 X followers that September has had the “lower number of months with positive yields” and that has a six-year run with negative yields.
Will Clemente
@WCLEMIII
“Bitcoin’s returns broken down by months
September has had the least number of positive-returning months at just two and is on a 6-year negative-returning streak.”
There are a number of other factors that point to September also would be full of potholes the material monitoring resource Material Indicators warned that a “complete recoil” of the profits made following the victory of Grayscale over SEC was positive for the largest cryptocurrency facing the future.
Material Indicators
@Mi_algos
TLDR: Trend Precognition signals on the D Chart
Prepare to round trip the range
BTC> $ 27,760 invalidates the signal
BTC <$ 24,750 paves the road to #Beradise
“To expand on what @TradingParrot shared earlier, on the #Bitcoin D candle Close/Open, Trend Precognition presented a new signal. This signal lends support my theory that #BTC could retrace the entire move from Tuesday’s @Grayscale ETF news, but it does not mean that the rally is dead…yet, however, each of the key MA’s are layering in technical resistance, so if we see a bounce from support, a rebound to a HH isn’t going to come without a resurgence in bullish sentiment. #NFA Economic Reports, Monthly Candle Close, ETF approval deadlines and Weekly Candle Close will all impact PA in that chronology.”
Nevertheless, facing the future, Bloomberg’s ETF analyst James Seyffart has urged investors to be attentive in mid -October, which is the second Decision deadline of the SEC for seven ETF of Bitcoin to the cash, specifically those of Blackrock, Bitwise, Valkyrie, Wisdomtree, Vaneck, Ishares and Invesco.
James Seyffart
@Jseyff
“NEXT DATES TO WATCH: Middle of October are the next major days to watch. Namely October 16th. (& @GlobalXETFs’ Oct 7)
Also, reminder that we fully expected delays on this round of spot #Bitcoin ETF filings. Would have been a shock if they were approved this week.”
On August 30, Seyffart and his colleague Eric Balchunas, an ETF analyst at Bloomberg, estimated that there would be 75% possibility of approving a Bitcoin ETF in cash by the end of this year. The dates of mid-October would be the last term for the SEC, at least in 2023.
In addition, Seyffart pointed out that delays in the most recent round of Bitcoin ETF presentations in cash were widely expected and would have been surprising if they had been approved in the first round of deadlines last week.
After a brief rebound thanks to the news of Grayscale, the price of Bitcoin has fallen 4.5% in 24 hours and, at the time of writing this article, changed from hands to USD 26,066, according to CoinGecko data.
By Audy Castañeda
