Glassnode Co-Founders Predict Bullish Momentum for Bitcoin in September

By Daisy Hodley Aug 26, 202363Views

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The Co-Founders of Glassnode Predict a Positive September for Bitcoin

The co-founders of Glassnode, Jan Happel and Yann Allemann, believe that Bitcoin could have a strong performance in September. They point to the relative strength index (RSI), a momentum indicator for Bitcoin, which is flashing bullish signals. However, they caution that if Bitcoin falls below $25,500, it may struggle to recover.

Key Points:

The RSI for Bitcoin is just below 30, indicating oversold territory.
The selling pressure for BTC is slowing down, suggesting a potential relief rally.
Bitcoin’s price is currently at $26,059, down 0.1% in the last 24 hours.

Hot Take:

According to Glassnode’s co-founders, September could bring positive news for Bitcoin. However, they emphasize the importance of staying cautious, as breaking below $25,500 and surpassing $26,000 may pose challenges for the cryptocurrency. Investors should closely monitor Bitcoin’s performance in the coming weeks.

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Daisy Hodley

Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy's insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding. A guiding star for both intrepid explorers and curious novices venturing into the crypto realm, Daisy's insights form a compass for discerning decision-making amidst the ever-shifting currents of cryptocurrencies. With the touch of a literary artist, they craft a narrative that enriches the evolving mosaic of the crypto landscape.