After the Federal Reserve annual meeting, BTC prices and other cryptocurrencies started a downhill trend on August 26. As of August 29, the market is showing no sign of recovery. Instead, the total crypto market cap has lost its $1 trillion mark. The current crypto market cap level stands at $950 billion, after losing a whopping $50 billion in 24 hours. BTC’s price lost its stand above $20k to settle at $19,510 on August 28. It gradually climbed to $19,853.93 on August 29 before falling to $19 817. Related Reading: Bitcoin Cash Loses 10% In Last 24 Hours, Despite 40% Hike In Trading Volume As things stand, the cryptocurrencys’ price movement is not showing any support from investors. Although BTC’s dominance increased in 24 hours, the market has moved to the “Extreme Fear” state. Will BTC Recover? A top analyst has squashed optimism that the BTC price will recover in the short term. The strategist recently shared some insights on Bitcoin’s historical price movements, indicating that September is never a good month for the crypto. The analyst known by the pseudonym Rager disclosed this information to his 206,100 followers on Twitter. Rager pointed out that even equities are struggling currently, and BTC dipping shows a tough month ahead. Rager shared a chart in his posts showing that Bitcoin usually loses up to 6% on its price every September. Now BTC is down by 1.06% and trading at $19,813.2...
