A week of declines at the beginning of September while we wait for the numbers on the consumer price indices. After a week in the red, today we woke up to Bitcoin at $20,100 and Ethereum at $1,700.
The expected updates of Ethereum and Cardano have maintained the prices of their tokens during these days. It is expected that on the 13th we will have news about Ethereum and on the 20th the Vasil fork in Cardano will be completed. Also on the 13th, we will have the CPI numbers on the table so we have to wait to see this news.
In case of surprises with the CPI, it will be decisive for the direction of the markets, especially for Bitcoin, which has been bouncing off the support of $18,500 for a week. If the news is worse than expected we have a cliff below $13,000, something that in my opinion is not going to happen because there are signs of improvement in prices. If the news is better than expected we may see Bitcoin looking for 25K again.
The month of September is historically a bad month for cryptocurrencies, but the fundamentals of this year and the atypical situation we are experiencing can result in an interesting end to the month.
Cryptoword
Honeygain
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