{"id":504081,"date":"2022-09-28T23:00:26","date_gmt":"2022-09-28T23:00:26","guid":{"rendered":"https:\/\/wncen.com\/?p=504081"},"modified":"2024-06-11T14:26:46","modified_gmt":"2024-06-11T14:26:46","slug":"why-single-digit-gains-is-the-best-case-scenario-for-bitcoin-this-september","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/why-single-digit-gains-is-the-best-case-scenario-for-bitcoin-this-september\/","title":{"rendered":"Why Single-Digit Gains Is The Best Case Scenario For Bitcoin This September"},"content":{"rendered":"<p class=\"p2\">Bitcoin gains for the month of September have been less than encouraging for investors. The month has historically been bearish for the digital asset, which makes it no surprise when multiple dips had begun to rock it. Now, as the month draws to a close, it continues to follow the trend for most of the month. This means that it is likely not to be any significant recovery, and single-digit gains may be the best it can do.<\/p>\n<h2 class=\"p2\">September Proves To Be Deadly<\/h2>\n<p class=\"p2\">The month of September has not been kind to the digital assets that currently play in the crypto market. From the beginning of the month to the present day, the crypto market has been wracked by dips and crashes, which has left most assets barely holding their heads above others.<\/p>\n<div class=\"related-reading-shortcode\" style=\"text-align: center\"><em><strong>Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/investors-cash-out-5m-from-7-week-bull-run-on-short-bitcoin\/\">Investors Cash Out $5M From 7-Week Bull Run On Short Bitcoin<\/a><\/strong><\/em><\/div>\n<p class=\"p2\">For Bitcoin, the effects of the September trend have been quite pronounced. Data shows that for the entirety of the month, the digital asset has only seen low single-digit gains. At this point, the gains of the cryptocurrency sit at 1%, but with the price continuing to succumb to the bear trend, it is possible that bitcoin may dip below this level.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-504085 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Bitcoin-september.png?resize=460%2C266\" alt=\"Bitcoin september\" width=\"460\" height=\"266\"><\/p>\n<pre style=\"text-align: center\">BTC suffers in September | Source: <a href=\"https:\/\/arcane.no\/research\" rel=\"nofollow\">Arcane Research<\/a><\/pre>\n<p class=\"p2\">Bitcoin is also not the only cryptocurrency to suffer such dreary fates. Other indexes, such as the Large and Small Cap Indexes, have all come out even worse. The Small Cap index was slightly below bitcoin in the fact that it was down -1% for the month of September, while the Large Cap Index had seen losses of -2%.<\/p>\n<p class=\"p2\">The Mid Cap Index was the only one to see some form of encouraging return. It did about 300% better than bitcoin, with gains of 4% this month, making it the best performer so far.<\/p>\n<h2 class=\"p2\">Bitcoin Doesn\u2019t Get Better<\/h2>\n<p class=\"p2\">September has been historically bearish, and the events that took place this month did nothing but drive that point further home. With the CPI data release and the FOMC meeting ending with another hike in interest rates, the short-term future does not look too bright for bitcoin.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/kyyS47BC\/\" alt=\"Bitcoin price chart from TradingView.com\" width=\"3284\" height=\"1760\"><\/p>\n<pre style=\"text-align: center\">BTC remains volatile | Source: <a href=\"http:\/\/TradingView.com\" rel=\"nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p class=\"p2\">The present single-digit gains that the digital asset is seeing have been much more than anticipated. Even with this, the likelihood that the price of the digital asset would close in the red remains quite high, especially given the sell-offs that have been rocking the market.<\/p>\n<div class=\"related-reading-shortcode\" style=\"text-align: center\"><em><strong>Related Reading: <a href=\"https:\/\/wncen.com\/news\/solana\/solana-clears-100-billion-transaction-count-as-nfts-gain-prominence\/\">Solana Clears 100 Billion Transaction Count As NFTs Gain Prominence<\/a><\/strong><\/em><\/div>\n<p class=\"p2\">Presently, bitcoin is barely holding above $19,000 but is seeing significant resistance at this point. The BTC dominance over the past week has been up, which could lead to a rise in the value. However, even with this, it is unlikely that bitcoin finishes the month with anything more than single-digit gains, if at all.<\/p>\n<pre style=\"text-align: center\">Featured image from Analytics Insight, charts from Arcane Research and TradingView.com<\/pre>\n<p><span class=\"s1\"><b><i>Follow <\/i><\/b><a href=\"https:\/\/twitter.com\/BestOwie\" rel=\"nofollow\"><b><i>Best Owie on Twitter<\/i><\/b><\/a><b><i> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin gains for the month of September have been less than encouraging for investors. The month has historically been bearish for the digital asset, which makes it no surprise when multiple dips had begun to rock it. Now, as the month draws to a close, it continues to follow the trend for most of the month. This means that it is likely not to be any significant recovery, and single-digit gains may be the best it can do. September Proves To Be Deadly The month of September has not been kind to the digital assets that currently play in the crypto market. From the beginning of the month to the present day, the crypto market has been wracked by dips and crashes, which has left most assets barely holding their heads above others. Related Reading: Investors Cash Out $5M From 7-Week Bull Run On Short Bitcoin For Bitcoin, the effects of the September trend have been quite pronounced. Data shows that for the entirety of the month, the digital asset has only seen low single-digit gains. At this point, the gains of the cryptocurrency sit at 1%, but with the price continuing to succumb to the bear trend, it is possible that bitcoin may dip below this level. BTC suffers in September | Source: Arcane Research Bitcoin is also not the only cryptocurrency to suffer such dreary fates. Other indexes, such as the Large and Small Cap Indexes, have all come out even worse. The Small Cap index was slightly below bitcoin in the fact that it was down -1% for the month of September, while the Large Cap Index had seen losses of -2%. The Mid Cap Index was the only one to see some form of encouraging return. It did about 300% better than bitcoin, with gains of 4% this month, making it the best performer so far. Bitcoin Doesn\u2019t Get Better September has been historically bearish, and the events that took place this month did nothing but drive that point further home. With the CPI data release and the FOMC meeting ending with another hike in interest rates, the short-term future does not look too bright for bitcoin. BTC remains volatile | Source: BTCUSD on TradingView.com The present single-digit gains that the digital asset is seeing have been much more than anticipated. Even with this, the likelihood that the price of the digital asset would close in the red remains quite high, especially given the sell-offs that have been rocking the market. Related Reading: Solana Clears 100 Billion Transaction Count As NFTs Gain Prominence Presently, bitcoin is barely holding above $19,000 but is seeing significant resistance at this point. The BTC dominance over the past week has been up, which could lead to a rise in the value. However, even with this, it is unlikely that bitcoin finishes the month with anything more than single-digit gains, if at all. Featured image from Analytics Insight, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":504090,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,506,679,1119,1144,78790],"class_list":["post-504081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-crash","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Why Single-Digit Gains Is The Best Case Scenario For Bitcoin This September<\/title>\n<meta name=\"description\" content=\"Bitcoin gains for the month of September have been less than encouraging for investors. 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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. 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