Bitcoin Rebounds Above $112,000 After Hitting $107,000 Last Week

Bitcoin has risen above $112,000 after falling to $107,000 last week, its lowest point since July. Analysts are divided on the sustainability of this rebound.

September Performance History

Historically, September is often negative for Bitcoin in post-halving years.
In 2017 and 2021, Bitcoin recorded losses of 8% and 7% respectively.
In 2013, it dropped by 1.60% in September.

Analyst Benjamin Cowen notes that price dips toward the 20-week simple moving average typically occur in September, followed by a recovery in Q4.

Analysis of Market Trends

Some analysts question whether traditional cycle patterns are changing.
This August saw Bitcoin close with a 6.25% loss, contrasting previous years' gains.
Current macroeconomic conditions could influence these trends more than past price actions.

Outlook and Predictions

Some analysts suggest the low for September may have already occurred.
Bitcoin opened the month at $108,200, peaked at $110,100, and then rebounded from $107,000.
Cowen argues corrections after new highs are standard and predicts a strong year-end rally.
Despite short-term volatility, long-term expectations for Bitcoin remain bullish.