Crypto Magic: September Potentially Gives Crypto Investor Opportunities To Buy The Dip

Illustration of Bitcoin (photo: Pixabay)

JAKARTA - Looking at Coinclass data, Bitcoin has been closed with a decline of around 11.29% in August 2023. In September it seems that it will still see a decline.

Entering the beginning of the week of September, Bitcoin price movements tend to experience a limited decline by trying to stay above the support level at US$25,000 (Rp381.7 million).

"Unfortunately, historically the price of Bitcoin also doesn't look too bright for September. History shows that Bitcoin tends to bearish every September from 2013 - 2022," said Crypto's Magical Financial Expert, Panji Yudha in a statement received.

Panji explained that the weakening of the price of Bitcoin in September provided opportunities for crypto asset investors to carry out the Buy The Dip strategy.

According to her, Bitcoin price movements in October and November from 2013 to 2022 tend to be positive with an average increase of 22.34 percent in September and 50.61 percent in October.

"We see the potential for this to repeat itself, supported by the potential softening of the Fed's attitude towards increasing the benchmark interest rate and recalling the fact that we are approaching a big year in 2024, namely Bitcoin Halving," Panji continued.

From the Bitcoin price movement in September, Panji suggested closely monitoring the range of 23,800 - 24,500 US dollars (Rp363 - 374 million), as a potential zone for further entry if BTC fails to last above $ 25,000 (Rp381.7 million) throughout September 2023.

On Tuesday, September 5 as of 09.00 WIB this morning, Bitcoin was trading for US$25,777 million, weakening by around 0.79 percent in the last 24 hours.