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bitcoin price prediction

Following the Bitcoin halving event, which took place earlier in May, BTC’s volatility made a dive. It hit an all-time low in June; the calmest cryptocurrency markets have been in a long while. Over the next two months, BTC would show greater price fluctuations, making it hard to determine where Bitcoin will go in September 2020. In this article, we’ll be taking a look at the prices of BTC in the recent and current market projections to arrive at the most accurate Bitcoin price prediction for September 2020.

Bitcoin Overview

Without delving into Bitcoin 101, this cryptocurrency is the first-ever digital coin created and the first to successfully record blockchain-based transactions. Bitcoin has a market capitalization of $217,318,048,461, and the BTC price is currently at $11,766.20.

$20,927,461,177 worth of BTC has been traded in the last 24 hours. With such a large number of transactions performed on the network on a daily basis, BTC has been slowing its processing speed. As a remedy, additional protocols have been added to enhance the speed, scalability, and privacy of BTC transactions, notably, the Omni Layer, Liquid Network, and Lightning Network. Only 21,000,000 Bitcoins will ever be created, and the current number in circulation is 18,469,687 BTC.

Bitcoin Price Prediction: Analysis

From July to August, Bitcoin has risen considerably. Starting at $9,340.80 on July 22, it rose rapidly to $11,166.26 over the next six days. It then experienced a series of fluctuations, dipping below the $11,000 support a few times and back up. On August 2nd, there was a sharp price drop from $11,949.14 to $10,992 within just two hours. For the rest of the month, the coin traded mostly between $11,000 and $12,000, reaching a peak of $12,399.61 on August 17th. It would fall slightly over the next couple of days.

Bitcoin market cap

Compared to the months immediately after the halving event, BTC has once again seen a spike in volatility. However, the trend seems to be neither bearish nor bullish at the moment.

According to WalletInvestors, the current pivot, resistance, and support levels calculated for BTC are:

  • Resistance Level (R3): 12134.00;
  • Resistance Level (R2): 12016.10;
  • Resistance Level (R1): 11800.80;
  • Pivot Point: 11682.90;
  • Support Level (S1): 11467.60;
  • Support Level (S2): 11349.70;
  • Support Level (S3): 11134.40.

Developments 

Bitcoin developments
personal-financial.com

Double spending attacks that had been plaguing Bitcoin were recently declared not to be a medium by which attackers steal Bitcoin, but a way to confuse coin holders that unconfirmed payments have been received. According to Ledger, “It is not a vulnerability in the network, but more of a design flaw.”

Double spending attacks were first uncovered by ZenGo, a Tel-Aviv based crypto start-up company. ZenGo identified these attacks in three major hardware wallets – Ledger, BRD, and Edge, and it was eventually coined “BigSpender” because it gives a misleading wallet balance. However, following this discovery, BRD soon released a fix, while Ledger and Edge currently have feasible solutions in the works. ZenGo also launched an open-source instrument that tests crypto wallets for the effects of BigSpender.

Bitcoin Price Prediction: Market Opinion for September 2020

In order to arrive at the most accurate verdict concerning the future performance of Bitcoin (BTC) in the cryptocurrency market, we will be considering the opinions of experts from some of the notable forecasting sites.

Longforecast

According to Longforecast, BTC will begin September at $11,466 and close at $11,262 for a percentage change of 0.1%. The site projects the minimum price for the month to be $10,474, with a maximum of $13,332.

Digitalcoinprice

Digitalcoinprice projects longer BTC price predictions in the month of September. The site forecasts that Bitcoin will be priced at an average of $27,551.04, with an increase of 136.85%.

Tradingbeasts

Bitcoin is expected to begin at a price of $10,247.256 when September starts. This is an increase of 0.25%. However, during the month, Tradingbeasts puts price fluctuations from as low as $8,731.76 to $12,840.803.

Gov. Capital

Gov.capital’s Bitcoin price prediction opens at $12,156.17 on September 1st, 2020, and closes at $11,551.86. Here is the complete table of daily predictions with the least and best possible prices.

Calendar dateRegularLeast possible priceBest possible price
2020 September
2020 September 01, Tuesday 11925.41 10136.5985 13714.2215
2020 September 02, Wednesday 12052.79 10244.8715 13860.7085
2020 September 03, Thursday 12199.01 10369.1585 14028.8615
2020 September 04, Friday 12179.22 10352.337 14006.103
2020 September 05, Saturday 12125.02 10306.267 13943.773
2020 September 06, Sunday 11974.91 10178.6735 13771.1465
2020 September 07, Monday 11968.29 10173.0465 13763.5335
2020 September 08, Tuesday 11931.58 10141.843 13721.317
2020 September 09, Wednesday 11780.10 10013.085 13547.115
2020 September 10, Thursday 11707.30 9951.205 13463.395
2020 September 11, Friday 11678.23 9926.4955 13429.9645
2020 September 12, Saturday 11795.20 10025.92 13564.48
2020 September 13, Sunday 11735.27 9974.9795 13495.5605
2020 September 14, Monday 11683.59 9931.0515 13436.1285
2020 September 15, Tuesday 11616.83 9874.3055 13359.3545
2020 September 16, Wednesday 11696.31 9941.8635 13450.7565
2020 September 17, Thursday 11616.80 9874.28 13359.32
2020 September 18, Friday 11678.51 9926.7335 13430.2865
2020 September 19, Saturday 11709.11 9952.7435 13465.4765
2020 September 20, Sunday 11739.58 9978.643 13500.517
2020 September 21, Monday 11767.43 10002.3155 13532.5445
2020 September 22, Tuesday 11718.49 9960.7165 13476.2635
2020 September 23, Wednesday 11728.97 9969.6245 13488.3155
2020 September 24, Thursday 11541.70 9810.445 13272.955
2020 September 25, Friday 11180.32 9503.272 12857.368
2020 September 26, Saturday 11223.95 9540.3575 12907.5425
2020 September 27, Sunday 11162.08 9487.768 12836.392
2020 September 28, Monday 11333.22 9633.237 13033.203
2020 September 29, Tuesday 11267.00 9576.95 12957.05
2020 September 30, Wednesday 11324.99 9626.2415 13023.7385

Bitcoin Price Prediction: Verdict

Based on the data analyzed in this article, we foresee that Bitcoin will experience even steeper and more rabid fluctuations in September 2020, but it may be headed in a more bullish direction than a bearish one.

Featured image: techgenyz.com

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