The crypto market is facing headwinds as bearish sentiments increase September, a historically bearish month for the asset class. Many experts are predicting a market sell-off that could push the total valuation of the crypto and altcoin market below $1 trillion.
Institutional support
Despite the bearish outlook, on-chain data shows institutional funds are steadily flowing into the market. Just last month, an address containing more than $3 billion worth of Bitcoin was traced to Robinhood Markets, a major US securities trading platform. This suggests that institutional investors are still interested in the crypto space, even amid the current volatility.
Bitcoin Price predictions
Blockchainedbb, a prominent crypto analyst on the X platform, believes that the crypto market is on the cusp of a significant buying opportunity. The analyst expects a drop in Bitcoin price to a range between $19,000 and $21,000 in the near future. However, Blockchainedbb does not expect Bitcoin to fall below $18,000 again.
Read more: Crypto Price Analysis: Will Bitcoin Find Support at $25.5k in September?
Altcoin price predictions
The analyst also expects a similar trend in the altcoin market, with Ethereum set to fall by around 23%. Ethereum’s price is expected to range between $1,000 and $1,200 in the coming weeks. The analyst also issued price targets for select altcoins, including Solana (SOL) at around $10, OCEAN at $0.20, Ripple’s XRP at 40 cents, TRIAS at $2.90 and the Elon Musk-backed Dogecoin (DOGE) at $0.04 .
Also Read: Altcoins Expected to Rise Three Times: Here’s How to Use Strategies for 10-20% Gains
However, you never know!
It is worth noting that the crypto market has shown a tendency for sudden upswings even amid bearish sentiments that have led to mass liquidations of traders. Therefore, investors should be prepared for both potential downside and upside volatility in the coming weeks.