Bitcoin’s price has dipped after the Wall Street open, with $20,000 price predictions resurfacing. The lackluster 24 hours for BTC price action has led to a more conservative outlook among market participants. Some traders predict a slow grind up to $28,500, followed by hype and FOMO, and then a dump. There are concerns about a potential “death cross” on the weekly chart, which could lead to a lower low and a test of $20,000. The liquidation of crypto assets by defunct exchange FTX could also contribute to selling pressure. However, some traders see the current price as a prime buying opportunity. BTC/USD is currently trading at around $26,600, with September gains of around 2.5%. It is worth noting that Bitcoin has delivered losses every September since 2016.
