After the Fed’s speech on Friday, August 26, 2022, whose main message was “don’t wait for a rate cut yet”, the prices of the SXP 500, Bitcoin and altcoins continued their downward correction.
Risky assets do not like a high rate, and now there is a process of reallocation of assets and getting used to a high rate.
Bitcoin forecast for continued growth is still relevant
According to the fractals we published a week ago, the price of Bitcoin has reached the critical mark of $19800.
In the coming days, it will become clear where the price of BTC will go next.
If buyers manage to lock in the price of BTC above $19,800, then according to the fractal, there is a high probability that the price of BTCUSD will rise and the dollar by the end of September.
If sellers lock in the price of Bitcoin below $19,800, then there will be a number of factors that could force the price of BTCUSDT to fall into the $12-14k area.
If we look at the history of Bitcoin trading, we can see that in the vast majority of years, the value of Bitcoin drops by an average of -7%+ in September.
Only in September 2015-2016 did the price of BTC increase.
Well, it will soon become clear where the price of BTCUSDT will go next month