A quiet September? Here’s what’s in store for Bitcoin [BTC]

📆 9/4/2022 6:05 PM
📰 CryptoAmb

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Bitcoin [BTC] is looking to add to traders’ woes in September, despite two major upgrades across the crypto-industry. Furthermore, Ethereum is set release the Merge on 15 September while Cardano is set to launch Vasil a week later. These long-awaited upgrades are expected to alter trader sentiment across the industry. However, recent data shows a […]

threw light on the falling volume in Bitcoin’s Futures. As per the tweet, Bitcoin’s Perpetual Futures Contracts Volume recently hit a 5-year low on Kraken at $716,813.Popular crypto-analysts have also pointed out a worrying pattern of Bitcoin’s past performances in September. For instance, one analyst“If we go back and look at all the prior Septembers, just going back to 2010, you can see in fact that all but three of them have been red and the only ones that were green gave about 2.

With no major reasons to be bullish, the social activity is also beginning to stagnate on Bitcoin. As shown in the chart below, Social Volume has also been maintaining its levels as online discussions over Bitcoin see no particular increase.Bitcoiners do not have much to celebrate right now as their king crypto chases down the latest resistance of $20K. From running down $70K to struggling to hit $20K, this is a massive downturn in Bitcoin’s journey.

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