Bitcoin Price Prediction: BTC Poised to Surge 15% by End of Month

Updated: 14 September 2023

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Bitcoin’s price has strengthened over the last two days before the US Consumer Price Index (CPI) release. The coin returned above the $26k mark, and surprisingly, it managed to stay above it despite expectations that it would drop once the CPI gets published.

Some, such as the crypto trader Daan Crypto Trades, have suggested that the market “feels different” this week compared to the previous period of weakness seen at the end of August and the first week of September.

Market feels different this week.

Dips being bought up relatively quick and while price keeps sweeping highs it keeps crawling itself back and leaving lows untouched.

Spot bid also stronger than the past few weeks.

Might be wrong but I'm optimistic.

— Daan Crypto Trades (@DaanCrypto) September 13, 2023

Daan Crypto Trades argued that dips are being bought up relatively quickly in comparison. He added, “While price keeps sweeping highs, it keeps crawling itself back and leaving lows untouched.”

Another comment on the current situation came from Keith Alan, co-founder of monitoring resource Material Indicators. Alan wrote, “The strength of #BTC momentum has faded a bit since yesterday, but so far, it’s still strong enough to hold on to most of what was reclaimed after the bounce.”

The strength of #BTC momentum has faded a bit since yesterday, but so far it's still strong enough to hold on to most of what was reclaimed after the bounce. In fact we have a new Trend Precognition ⬆️ signal from the A1 algo (dots). Note that #TradingSignals on @tradingview… pic.twitter.com/WW6mHNPoV6

— Keith Alan (@KAProductions) September 13, 2023

Bitcoin has hit “exit signal,” claims Bloomberg analyst

Not everyone is optimistic on the coin, however. Bloomberg Intelligence’s analyst, Jamie Coutts, issued an alert, warning that the coin is becoming vulnerable to contracting global liquidity.

In a series of posts on X, he said that the coin had hit the “exit signal” market in mid-July. At the time, the price was $29,500, around 11% higher than where the coin sits.

Our trend model is still out of the market (negative) from $29,500
7/8 pic.twitter.com/6Y6KXCtC9r

— Jamie Coutts CMT (@Jamie1Coutts) September 13, 2023

Coutts added that Bitcoin will turn bullish only when global liquidity expands.

Meanwhile the global liquidity contraction (M2 & CB Bal Sheets) has slowed, but is still deeply negative. Until this reverses, Bitcoin is unlikely to go higher. Likely lower.
6/8 pic.twitter.com/kFe8G28f7h

— Jamie Coutts CMT (@Jamie1Coutts) September 13, 2023

BlackRock’s first Bitcoin ETF rejection was “purely procedural,” claims Nasdaq executive

While Bitcoin’s price continues to be the topic of debate, the crypto industry still waits to see whether the SEC will reject BlackRock’s second Bitcoin ETF proposal. As the process continues, skepticism is again rising in the industry.

However, a Nasdaq executive, Giang Bui, commented yesterday, September 13, that there is still hope. Bui said the initial ETF rejection was “purely procedural,” and there is still hope that the SEC will approve the second application.

Bitcoin price right now

At the time of writing, Bitcoin’s price is $26.28k, around 0.81% higher than 24 hours ago. However, every week, the growth is significantly more robust, sitting at over 2%.

During this week, BTC has surged toward $26k and breached this level three times — the first time around September 8, followed by a correction to around $25,850. The second time came after the coin saw a dip to $25k, only to surge past $26k on September 12.

This also led the price to drop below the $26k mark yesterday, September 13. Finally, later on, during the same day, BTC returned to $26k, and ever since, it has been trying to breach a resistance at $26.4k.

As for its future, it remains to be seen. Experts have noted that we are in a range market now, and if the $25k support breaks, Bitcoin can be expected to dip to $23.5k and $22k after that. Meanwhile, it has some significant resistances, all of which sit below $30,000, including the ones at $27k, $28.33k, and $29k.

Bitcoin BSC presale raises over a quarter of a million per day

Recently, a new BEP-20 token called Bitcoin BSC (BTCBSC) emerged. This is not a copy of the actual Bitcoin but of Bitcoin the way it was in 2011. This is why its price is only $0.99, as Bitcoin still struggled to reach the value of $1 back then.

The project intends to offer staking, similar to Bitcoin’s mining, as it will release a portion of BTC every 10 minutes. The presale was a massive hit among crypto users, and in only a week, it raised over $1.7 million.

On average, it is raising about $250,000 per day, meaning that there is a short window of opportunity for would-be buyers before the presale is concluded. This will happen once the presale reaches its soft cap of $3.96 million. If you wish to buy BTCBSC, you can do so with ETH, BNB, or USDT.

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