The Crypto market is famous for its volatility with price Fluctuations that can send investors on a roller-coaster ride. Throughout the year, September is the month that is often labeled as ‘The Bad Month’ for the Crypto market. While pinpointing the exact reasons behind this trend can be complex, examining historical patterns and potential factors can shed light on why September might be perceived as a ‘Bad Month’ for Crypto investments.
Why September is Consider as a Bad Month for Crypto
September is a bad month for Both Crypto and Stock markets. At the same time, there is no particular reason that justifies the market’s historical tendency to experience price corrections or downturns during this time. The investors believe that the market in September will become bearish, and thus, they decide to sell of their assets. This causes a dip in prices because of the highest offer. Moreover, previous years have been terrible for Bitcoin in September, and its price went down by almost 19% in 2014. But this is not only the phenomenon with Bitcoin. Other assets also face the same issues. Therefore, this pattern has led some to believe in the existence of a “September curse.”
One speculated explanation of this trend is that it is the end of the summer season in the northern hemisphere, which often coincides with less trading activity and market participation. Moreover, the traders and investors who may have been less active in the summer months might return to the market in September. Therefore, it increases the selling pressure on them.
Moreover, changes in rules and regulations about Cryptocurrencies, as well as events all around the world, can create uncertainty in the market that leads to cautious investor behavior, which might cause the prices of Cryptocurrencies to go down. As the time speaks for itself, September is a month in which important regulatory announcement has been made.
So, what to do in September? If you are a beginner in the Crypto world, let us help you out on this. Here is the list of Cryptocurrencies to Buy in the September:
10 Crypto currencies to Buy in the September 2023 Dip:
1. XRP
Current Price: US$0.5183
It is Ripple’s digital assets that caught attention by partnering with MoneyGram for faster and cost-efficient international payments. Even though its price is stabilized post-SEC rules, it is still worth more than 50 cents. Therefore, it indicates that it’s strong and is not dropping in value too much.
2. Solana
Current Price: US$20.28
Solana’s collaboration with Chainlink to introduce secure decentralized oracles stands out. They have also introduced the Solend DeFi derivates platform, which makes it even more attractive in the evolving world of Cryptocurrency. Moreover, due to its recent updates, this network has better technology than Ethereum. So, it could be worth owning SOL tokens.
3. Tron
Current Price: US$0.07635
Tron’s successful $600 million fundraising round led by Alameda Research underscores its expanding ecosystem and commercial adoption efforts. Moreover, It is also connected with the Ethereum Virtual Machine (EVM).
4. Toncoin
Current Price: US$1.50
Toncoin’s entry into the NFT marketplace in March 203 and its successful collaboration with Bitfinex contributed to its significant price surge. Moreover, the introduction of the mainnet added further momentum.
5. Shiba Inu
Current Price: US$0.000008122
With Shiba Inu’s introduction of the Shibarium layer-2 blockchain and plans for its own metaverse, Shiba Inu is at potential growth.
6. Stellar
Current Price: US$0.1184
Stellar’s partnership with MoneyGram for cross-border payments and its recent recovery from the cost of its native coin, XLM, from a previous low in July 2022, has secured its position as a contender that you can buy in September dip.
7. Chainlink
Current Price: US$5.91
Chainlink’s innovation continues with the launch of Chainlink Keepers, which facilitates automated actions on the blockchain. Despite a stabilization in price, Chainlink still remains above $5. Which is a positive indicator, which means you can invest in it fearlessly.
8. Hedera
Current Price: US$0.0545
Hedera’s collaboration with Dropp for micropayments demonstrates its versatility. Moreover, with the price of HBAR witnessing a notable increase after partnering with FedNow, It has risen up to 20%.
9. Optimism
Current Price: US$1.42
The introduction of Optimism Collective led to a surge in the cost of optimism by more than 50%. It showcases that its new governance structure would result in a rise in optimism adoption. After the initial rise after the debut of Optimism Collective, its price has stabilized, but it is still trading above the $ 1.50 mark, which is encouraging.
10. Maker
Current Price: US$1,025
Following the introduction of MCD, the price of Maker, MakerDAO’s native token, increased by more than 30%, indicating a positive outlook for its enhanced utility. After seeing an initial increase following the release of MCD, the price of Marker has stabilized. However, it is still trading above $1,000, which is a good sign.
In a Nutshell
It is totally clear that investing in Cryptocurrency comes with lots of risks due to its unpredictable nature. If you want to make informed choices, it is important to research well, consider your risk tolerance, and consult financial experts. While trends offer insight, the market still remains unpredictable. Therefore, diversification, research, and long-term overviews are crucial for better investment. So, when investing in September 2023, you will come across chances and challenges that require caution. In the end, it is wise to say that September is tough for crypto. However, with careful strategies, you can still walk through it intact.
