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US Crypto Exchange Kraken Predicts Bitcoin Price Crash in September

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  • US Crypto Exchange Kraken Predicts Bitcoin Price Crash in September

    US-based crypto exchange Kraken has released its August 2020 volatility report which predicts that Bitcoin’s price will likely crash and perform negatively in September.

    According to Kraken’s August 2020 volatility report, Bitcoin is due for a very negative performance in September that could see the pioneer crypto’s price crash before returning to a state of extreme volatility.

    According to the Kraken report:
    “Historically, September is Bitcoin’s worst-performing month, with an average return of -7%. With Bitcoin underperforming its average monthly returns for most of the year, we could see returns below -7%."

    The Kraken report warns that Bitcoin volatility will be on the rise soon due to “lesser-known market dynamics.”
    The report reads:
    “Twelve times in the past, Bitcoin’s annualized volatility bottomed between 15% and 30% before climbing, on average, to 140% and returning +196% over 94 days. As of the end of August, 38 days have passed since the volatility low of 23% set on July 24, with volatility rising to 44% and price gaining +25%"

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