logo logo

The next-generation financial news, and trading signals for you to start driving your FOMO today!


FREE trading signals

Get free daily crypto signals to make profitable trades every day!

View fresh signals


Peter Davis

An writer at FOMOdrive

  • Sep 04, 2023
  • 2 min read

September promises a collapse of Bitcoin?

Last November, Bitcoin experienced its worst month since then.

The historically difficult month of September has come for Bitcoin (BTC).

JPMorgan believes that the crypto market has attained fundamental values.

Lee increased his prediction for the value of Bitcoin to $185,000.

X, the social network created by Elon Musk, will not be launching its own cryptocurrency.

August was a difficult month for Bitcoin, with the cryptocurrency dropping 11% to $26,000. This was the worst month for BTC since November of last year, and marked the second consecutive month of decline, erasing the gains made in June.

JPMorgan has noted that due to the large-scale liquidation of positions, the crypto market has reached fundamental values. They predict that the pressure on digital currencies will gradually ease.

Grayscale Investments stated that they are uncertain if they will submit a new request to transform the GBTC exchange-traded fund into a Bitcoin spot ETF.

Jeremy McLaughlin, a lawyer from K&L Gates, proposed that the cryptocurrency sector may have an opportunity to recover in the US after a few court rulings were not in the SEC's favor.

Tom Lee, co-founder of Fundstrat, has increased his prediction for Bitcoin, now expecting it to reach $185,000 if the US spot ETF is approved. This is a higher forecast than his previous prediction of $150,000.

A class-action lawsuit against decentralized exchange Uniswap was dismissed by the New York District Court, with the court explaining that Uniswap is not accountable for any fraudulent tokens traded on the platform.

Elon Musk has confirmed that his social network X, formerly known as Twitter, will not be creating its own cryptocurrency.

Lufthansa has unveiled a loyalty program that utilizes non-fungible tokens (NFTs) built on the Polygon blockchain.

The Mitsubishi Banking Group and Ginco, a web3 solutions company, have jointly announced the launch of Japan's first cryptocurrency trust service.

For Bitcoin, September is historically the most difficult month of the year. Over the past 12 years, it has only ended the month up three times and down nine times. On average, the decrease was 13%, while the average increase was 11%. If the trend continues, Bitcoin could end September at either $22,600 or $28,900.

Share this article