September has traditionally been a bad month for cryptocurrency, and the market has started off in the red, with the DXY breaking out making higher highs, which is not good for risk assets like the cryptocurrency market. However, there are major milestones to pay attention to, including the launch of Ethereum’s merge and a big conference for Near Protocol. The five altcoins to watch include Ethereum, Near Protocol, Cardano, and two others, with Ethereum predicted to reach $10,000 within two to three years. Additionally, there are time-sensitive announcements regarding giveaways and updates to an online class.
What to Expect in September: Cryptocurrency Price Predictions and Milestones
As September rolls in, many crypto traders and investors are wondering what to expect in terms of price predictions and major milestones. In this article, we will break down some important dates to keep an eye on, as well as five altcoins that are defying the September slump and showing potential for growth.
September Traditionally a Tough Month for Cryptocurrency
According to bitcoinmonthreturn.com, September has historically been one of the worst months for cryptocurrency. The entire market is currently in the red, with the last 24 hours showing a 1.8% drop for Bitcoin and a 1.3% drop for Ethereum. However, there are several reasons why this could be happening.
DXY Breakout and its Effects on Risk Assets
The DXY has broken out and is making higher highs, which is concerning for risk assets such as the stock market and cryptocurrency. Traders need to pay attention to this development, as the dollar is continuing to gain strength in September.
Important Dates to Watch
Traders need to pay attention to several important dates in September that could affect cryptocurrency prices. On September 2, the employment situation numbers will be released, which will be a general indicator of the economy’s health. On September 13, the schedule of releases for the consumer price index will give more information about inflation and whether or not the federal government will be increasing rates.
Ethereum’s Merge and Mainnet Launch
One of the biggest events to watch in September is Ethereum’s merge, which is happening in 12 days. Additionally, there may be a mainnet launching in approximately 13 days, which could be massive for cryptocurrency as a whole. Moving from proof of work to proof of stake, this development has the potential to take Ethereum from $1,000 all the way up to $10,000 in the next two or three years.
Five Altcoins to Watch
1. Ethereum – With the upcoming merge and potential mainnet launch, Ethereum is a must-watch cryptocurrency.
2. Near Protocol – A Top 30 cryptocurrency coin that has a conference on September 11-14, which could be a huge catalyst for growth.
3. Cardano – A hard fork announcement has traders expecting a price pump, with support at 40 cents and potential growth to 60 cents in bullish scenarios.
4. Polygon – A popular layer 2 scaling solution seeing massive growth and potential to continue.
5. Solana – A high-performance blockchain seeing rapid growth and adoption, with a potential to become a Top 10 cryptocurrency.
September has traditionally been a tough month for cryptocurrency, but with various events and altcoins showing potential growth, traders and investors have reasons to be cautiously optimistic. Keep an eye on the important dates listed above and the five altcoins mentioned in this article. As always, this article is not financial advice, and traders should do their own research before investing in any cryptocurrency.