Analysts Say Bitcoin Correction Could Continue for Another Two Months, Announce Three Altcoins That Could Outperform BTC!

While the sharp and sudden decline in Bitcoin and altcoins caused investors to panic, ““Will the decline continue? How long will it continue?” Questions such as these came to the fore.

While many analysts expect Bitcoin and cryptocurrencies to rise after the Fed’s first interest rate cut in September after a difficult summer, the analysis firm Fairlead Strategies noted in its weekly report that Bitcoin could face a tough period in September.

Analysts pointed to seasonal trends, exhaustion signals, and macroeconomic factors as indicators that BTC would show weakness in September.

“We are entering a generally seasonally weak period for riskier assets like Bitcoin in September. A correction usually hits the most volatile assets the hardest, but these corrections are temporary.”

Technical Indicators Point to Correction in Bitcoin!

Fairlead Strategies analistleri DeMARK He said that the indicator is indicating a bearish trend in Bitcoin and that there is a risk of testing the $56,500 support.

According to the DeMARK indicator, analysts expect weak momentum for Bitcoin in the short to medium term He claimed that the correction could continue for another two months.

“The counter-trend signal from the DeMARK indicator and weak medium-term momentum support corrective price action that could continue for another two months.

These indicators suggest that there is potential for Bitcoin’s price to continue moving downward or sideways after September.”

Analysts also noted that the decline in Bitcoin could also be affected by the recovery of the US dollar index. “The Dollar Index, which tends to be negatively correlated with Bitcoin, appears poised for a near-term recovery, which supports the BTC downside.” he said.

Analysts stated that although they expect a decline in the short and medium term, they maintain their expectation of an increase in the long term, and said that the resistance around $70,000 is the main price level to watch.

Three Altcoins Could Outperform Bitcoin!

Analysts also recently examined altcoins in their Relative Rotation Chart (RRG) review.

According to the RRG chart, analysts say, Avalanche (AVAX), Chainlink (LINK) ve Solana (SOL)He noted that the has been showing recovery, gaining strength over the past few months and could outperform Bitcoin in the near future.

However, not all cryptocurrencies such as AVAX, SOL and LINK are giving positive signals. According to the RRG chart, analysts Ethereum (ETH) ve Uniswap (UNI)He stated that ‘s position continues to be the most negative.

*This is not investment advice.