Bitcoin Price Forecast for the Week of September 18-24: Expectations of Growth and the Impact of Key Events on the Market
Date: 2023-09-17 Author: Dima Zakharov Categories: CRYPTO PAYMENTS
Volatility in the Cryptocurrency Market and an Optimistic Bitcoin Forecast for the Week of September 18-24
Amidst substantial volatility in the cryptocurrency market in recent weeks, Bitcoin investors and traders are closely monitoring price movements. Expert Vladislav Antonov, analyzing the market situation, advises against reacting to panic sales and puts forth an optimistic forecast for the week of September 18-24.
According to his analysis, Bitcoin, which has recovered after a panic sell-off and is trading around $26,500, has favorable technical conditions for further growth. Key factors include support from positive news regarding a potential Bitcoin ETF from Franklin Templeton and the limited impact of the SEC chairman's statements on the crypto market.
However, the key events that could influence Bitcoin's price will include the release of inflation data in the EU, the Federal Open Market Committee meeting in the United States, and the speech by the Federal Reserve Chairman, Jerome Powell. All of these events are expected in the coming week and could significantly impact financial markets.
The analyst also emphasizes that Bitcoin's recovery is expected on Wednesday following the Federal Reserve's meeting and Powell's press conference, which could be a critical moment for reaching the $27,600 level. He advises investors to monitor the market's reaction to inflation data and the Fed's statements, as these could determine the future trends in the cryptocurrency market.
The Influence of Key Events on Bitcoin's Price and Expectations Post Panic Selling
In conclusion, despite volatility and rumors, Bitcoin retains the potential for growth in the upcoming week, provided there are no major events that could shift the market dynamics for cryptocurrencies. Investors should remain cautious and closely monitor key news and events that could impact Bitcoin's price.
Amidst the recent volatility in the cryptocurrency market, Bitcoin continues to be the center of attention for investors and traders. BitRiver analyst Vladislav Antonov warns against panicked reactions and predicts a positive trend in Bitcoin's price for the week of September 18-24.
Key factors supporting this optimistic forecast include positive news about a potential Bitcoin ETF from Franklin Templeton and the moderate impact of the SEC chairman's statements on the crypto market. The technical outlook also favors further growth.
However, investor attention will be focused on several events, such as the release of inflation data in the EU, the Federal Open Market Committee meeting in the US, and Jerome Powell's speech. The market's reaction to these events could have a significant impact on Bitcoin's price and financial markets as a whole.
Overall, the analyst underscores that Bitcoin has the potential for growth, but investors should remain vigilant and closely monitor news and events that could affect the cryptocurrency market. Key points to watch will include the aftermath of the Federal Reserve's meeting and inflation data in Europe, which could determine trends for the following week.
