Bitfinex Predicts Bitcoin Could Drop to $40,000 Amid September Rate Cut Uncertainty
Bitfinex’s latest analysis suggests that Bitcoin (BTC) prices might experience a significant decline in September, possibly falling to $40,000.
The exchange warns that a rate cut this month could lead to a 15-20% drop in Bitcoin’s value, projecting a potential low range between $40,000 and $50,000. This forecast is grounded in historical patterns where cycle peaks in returns have decreased by 60-70% and typical bull market corrections have also diminished.
Currently priced at $57,701, a drop to $40,000 would represent a 30% decrease for Bitcoin. Bitfinex notes that September has historically been a challenging month for Bitcoin, marked by high volatility and poor performance.
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The research also highlights that Bitcoin’s price is likely to be influenced by central bank policies and broader financial market trends.
The exchange anticipates that any “sell-the-news” reaction to a rate cut could create both risks and opportunities for traders, as Bitcoin’s price movements continue to align closely with global economic conditions and traditional risk assets like the S&P 500.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
