bullish

Bitcoin

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-could-reach-68000-in-september/" data-wpel-link="internal">Bitcoin Could Reach $68,000 in September</a><br></p>
<p style="text-align: justify">As we approach the end of August, time is running out. While it’s not expected for everything to repeat exactly as in previous cycles, some indicators have a low margin of error. Today, we will discuss three reasons why Bitcoin’s price could reach $68,000 in September.</p> 
<h2 style="text-align: justify" id="bitcoin-september-predictions">Bitcoin September Predictions</h2> 
<p style="text-align: justify"><strong>BTC</strong> rising will also lift altcoins, which have been struggling for a long time, making 20-30% gains easily achievable. Therefore, <a href="https://en.coin-turk.com/superverse-offers-blockchain-solutions-and-nft-trading/" data-wpel-link="internal">altcoin</a> <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are eagerly awaiting the days when BTC’s price will once again approach the $70,000 mark. There are at least three reasons for those who believe in a rise.</p> 
<h3 style="text-align: justify" id="btc-supply-on-exchanges">BTC Supply on Exchanges</h3> 
<p style="text-align: justify">The first reason is the amount of BTC held on exchanges. As of today, there are 2.68 million <strong>BTC</strong> on exchanges. In January, the figure was over 3 million, a decrease of 11%. While the price increased by 43%, the supply ready for sale on exchanges significantly decreased.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-382455 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTC-borsa-rezervleri-.png" alt="" width="1641" height="897"></p> 
<p style="text-align: justify">This <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, showing that BTCs are being transferred to cold wallets, is a bullish indicator. The ETF channel is also recovering, with only four negative days in the last 13 days. The recovery in the <strong>BTC ETF</strong> channel brings to mind the following comment from CryptoQuant analysts.</p> 
<blockquote> 
 <p style="text-align: justify">“A recovery in spot ETF purchases is necessary to boost overall Bitcoin demand and potentially lead to a corresponding price rally.”</p> 
</blockquote> 
<h3 style="text-align: justify" id="bitcoin-whales">Bitcoin Whales</h3> 
<p style="text-align: justify">According to Santiment data, addresses holding between 100 and 1000 <strong>BTC</strong> accumulated 94,700 BTC during the past six weeks. Whales are relatively experienced investors, and if their reserves are increasing in this seemingly negative environment, the medium-term outlook is positive. Demand increased rapidly, especially with the drop to $50,000.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-382456 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTC-balinalari-birikim.png" alt="" width="1275" height="610"></p> 
<h3 style="text-align: justify" id="bitcoin-technical-analysis">Bitcoin Technical Analysis</h3> 
<p style="text-align: justify">The <strong>BTC price</strong> fluctuating within the bull flag formation is preparing for an upward breakout soon. For this, closures above $60,300 are essential, and at the time of writing, the price is above this level. The formation target is $68,000, with the estimated date of reaching the target being September.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-382457 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTC-Eylul-2024-Hedef.png" alt="" width="1840" height="841"></p> 
<p style="text-align: justify">The $59,446 support is strengthening. If those expecting deeper dips for BTC join the buyers as the current stance continues, it will support the rise, presenting a different detail.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-could-reach-68000-in-september/" data-wpel-link="internal">Bitcoin Could Reach $68,000 in September</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-could-reach-68000-in-september/" data-wpel-link="internal">Bitcoin Could Reach $68,000 in September</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Could Reach $68,000 in September

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