Bitcoin Closes Weekly Below $26K. Rektember Could See the Bitcoin Price Fall Towards $20K.

It's time to keep a cool head.

Sep 04, 2023

∙ Paid

On August 24, I told you that even though the Bitcoin price seemed to be holding on to $26K, I saw 5 reasons for a drop in the Bitcoin price to lower zones:

Bitcoin Seems To Be Holding On to $26K, but Here Are 5 Reasons Why You Should Prepare for a Sharper Correction.

Sylvain Saurel

August 24, 2023

Bitcoin Seems To Be Holding On to $26K, but Here Are 5 Reasons Why You Should Prepare for a Sharper Correction.

In the past week, the price of Bitcoin has fallen by over 10% due to a massive liquidation of long and short positions. As always, the best advice I have for leveraged trading is this: DO NOT LEVERAGE TRADE. NEVER. A simple golden rule to remember. Since then, the price of Bitcoin has held the $26K mark.

Read full story

Grayscale's success in its lawsuit against the SEC enabled it to postpone the deadline, with the price of Bitcoin exceeding $28K for a few hours. For me, this marked the umpteenth victory of the BCA (Bitcoin-Cost Averaging) strategy over technical analysis and so-called Bitcoin Trading experts:

Bitcoin Price Takes $2K in Minutes – Another DCA Victory on Technical Analysis.

Sylvain Saurel

August 30, 2023

Bitcoin Price Takes $2K in Minutes – Another DCA Victory on Technical Analysis.

In the world of Bitcoin, you'll quickly realize that there are two camps: the traders' camp, and the camp of those who understand the why of Bitcoin. I admit that there is also a third camp, that of those who still don't give a damn about Bitcoin, but here I'm concentrating solely on the two camps of those who are already in the Bitcoin world.

Read full story

The lack of volume at this price level ultimately condemned the price of Bitcoin to fall back towards $26K when the SEC announced it was giving itself more time to respond to requests for Bitcoin spot ETFs from global financial giants such as BlackRock and Fidelity.

The price of Bitcoin finally closed last week below $26K at $25,975:

Keep reading with a 7-day free trial

Subscribe to In Bitcoin We Trust Newsletter to keep reading this post and get 7 days of free access to the full post archives.