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Top cryptos are starting the month on a low note as September begins. Specifically, Bitcoin (BTC) has dipped by approximately 10.8% over the last month.
Ethereum followed closely, with an 11.2% drop. XRP has taken a considerable hit, losing almost 20% of its value over the past month.
Although the crypto market experienced a brief surge on August 29 after Grayscale’s court win against the SEC, the uptrend was short. As September starts, let’s consider the near-term future of these leading cryptos.
Will The Bitcoin Price Break $30,000 In September?
For years, September hasn’t been favorable for Bitcoin’s performance.
Since 2017, the king coin has consistently ended the month at a lesser value than it began. The question now is whether 2023 will defy this trend.
The $30,000 level is a crucial psychological benchmark for Bitcoin enthusiasts. Despite this, BTC has maintained a value above this level only a few times throughout the year. It remains a tough barrier to surpass!
Crypto expert Eric Krown recently analyzed Bitcoin’s 20-day moving averages. His initial sentiment leans towards a cautious outlook, predicting that Bitcoin will likely oscillate between $26,000 and $28,000 for most of this month.
That said, Krown updated his outlook following a rally earlier in the week. He indicated that a breakout could be looming if Bitcoin sustains its momentum.
Krown suggested that if Bitcoin can hold a value above $27,200. It may rise towards $31,000 or even $32,000 in the weeks ahead.
Is 2023 the year Bitcoin shakes off its September slump? With several variables in play and expert predictions, the $30,000 question remains open for debate.
Can The Ethereum Price Surpass $2,000 and Outperform Bitcoin?
Throughout the year, both Bitcoin and Ethereum have struggled to sustain key levels—$30,000 for BTC and $2,000 for ETH. However, Ethereum seems ready for a breakthrough as it has outpaced Bitcoin in the latter half of 2023.
Ibrahim Ajibade, a crypto analyst, suggests that if Ethereum can break and hold above the $2,000 mark, it’s likely to extend its winning streak against Bitcoin.
This leads us to the concept of Bitcoin Dominance, which measures Bitcoin’s value relative to the entire crypto market cap.
As of late June, Bitcoin Dominance was at a high of 52%. Fast forward two months, and it has declined to nearly 48% at press time.
CryptoWorld Josh, a prominent analyst, recently commented on this decline. He indicated that if Bitcoin Dominance falls below approximately 47.5%, we might see an altcoin season where Ethereum and other alternative cryptos could gain substantially compared to Bitcoin.
Josh also added a word of caution, stating it might be at least another month before these shifts materialize.
Thus, Ethereum can break its $2,000 ceiling and outperform Bitcoin in the near term, especially if Bitcoin’s market dominance continues to wane. However, many analysts believe the full transition might take longer.
Will XRP Reach $0.6 by Month’s End or Face a Downturn?
Recently, XRP has been mirroring its moving averages, a trend commonly seen in top cryptos.
In crypto trading, Exponential Moving Averages (EMAs) are key indicators. They average an asset’s closing prices over a specific period, giving weight to the most recent prices.
At press time, XRP has considerably dropped below its 200-day EMA for the first time in nearly five months. Simply put, it suggests that the current prices are below the 200-day average price for XRP.
While this highlights a long-term bearish edge, the 200 EMA can act as resistance for immediate rallies. As a result, the $0.524 level can prevent any near-term rallies.
Also, FXStreet’s crypto analysts have raised a red flag. They point out that if XRP departs from its current trajectory, it could fall between $0.504 and $0.46. Any dip below $0.48 could signal a longer downward spiral, potentially cutting its value by up to 10%.
On the flip side, they suggest that positive momentum could propel XRP’s value to as high as $0.8 per token—a peak not witnessed since July.
Thus, XRP’s short-term prospects remain questionable. Staying above $0.48 will be crucial to avoid a downward trend as September progresses.
Other Tokens to Watch In September
It’s essential to keep a tab on early-stage currencies as they tend to grow faster than established ones like BTC or ETH.
Considering this, here are two promising tokens to watch this September.
Wall Street Memes – Community-Backed Meme Token Ready For Listing After Raising Over $25 Million
Wall Street Memes (WSM) is a hot new meme crypto that has been the buzz among investors, drawing over $25 million in its presale phase.
This coin is capturing attention due to its roots in the popular Wall Street Memes online community and its successful viral marketing.
The community-backed platform has a solid following, exceeding one million online supporters. Moreover, Elon Musk has previously interacted with Wall Street Memes, engaging with its Twitter account.
It combines key elements that have helped other meme cryptos like DOGE: a highly engaged community, attention-grabbing visuals, and a rebellious stance towards traditional finance systems.
Also, the total supply of $WSM tokens is capped at 2 billion. These tokens are set aside for the community: 50% for presale, 30% for community incentives, and 20% for trading liquidity.
With zero allocation to the team, the project eliminates the risk of a rug pull and is entirely driven by the community.
While market experts debate the price movements of well-known cryptos like Bitcoin, Ethereum, and XRP in September, one fact is clear: $WSM will make its exchange debut by month’s end. Many analysts believe this will push its value far above its initial price of $0.0337.
Moreover, $WSM’s creators target a $1 billion market value as it goes public, potentially offering early backers a return on investment of up to 15 times.
Visit Wall Street Memes Presale
yPredict – Offers AI-Driven Trading Insights And Passive Income Potential, Raised Over $3.7 Million
yPredict (YPRED) is another trending token catching investors’ attention due to its unique trading platform that uses Artificial Intelligence to assist new and seasoned traders.
The platform offers a subscription model to its users that allows access to AI-driven market insights. It also has a specialized marketplace for predictive models analyzed by AI specialists and quantitative experts.
In the ongoing presale for $YPRED, each token is priced at $0.1 and will increase to $0.12 in the final round. The platform has already raised over $3.7 million in just a few weeks of its official launch.
yPredict uses Natural Language Processing (NLP) to gauge the market sentiment around specific tokens. They offer detailed chart patterns, AI-generated trading signals, and thorough technical assessments.
Users who purchase a subscription using $YPRED tokens also get free access to these comprehensive trading analytics.
Additionally, there is also a revenue share involved. $YPRED token owners receive 10% from each new subscription and 15% from swap fees via a staking pool.
This setup allows users to earn an Annual Percentage Yield (APY) and a steady stream of passive income.
The ongoing presale is structured to allocate 80 million tokens with a hard cap of over $6.5 million. You can read yPredict’s whitepaper and join their Telegram for all the latest updates.
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