Ether’s Rise in August Could Reverse By September: Data

Ether’s price is up 25% from the start of August. However, historical data indicates that Ether could fall in value by September.

It is only a matter of time before we know if Ether has (ETHThis year’s, which is a different story.

CryptoGoos is a cryptocurrency trader. said In an X-post on Friday “ETH seasonality in September during post-halving years is typically negative. Will this time be different?”

Ether was trading at $4 759 as of the publication date, an increase of approximately $952 since its August 1st opening price of $ 3,807 according CoinMarketCap. Following dovish remarks from the US Federal Reserve, crypto assets reached new highs on Friday above $4 867. Chair Jerome Powell Jackson Hole Symposium 

Ether: History warns against a September rush

Powell suggested that interest rates could be cut in November, something many crypto investors see as an opportunity to rally the market. 

History suggests Ether is a good investment. Since 2016, there were only three occasions where Ether gained in August and then fell again in September. according CoinGlass is a great way to collect coins.

Ether rose by 92.86% from August 2017 to September 2017, before falling 21.65% in the following month. 

In 2020, the pattern was repeated with an August gain of 25.32 % followed by a September drop of 17.08%. Ether gained 35.62% during August 2021 before falling 12.55% by September.

Ether gains in 2016 and 2019

Ether’s performance in September in both 2016 and 2019 was positive, despite the fact that it had losses in 2016.

This September may be different from the previous ones, as there are now Ether ETFs, Ether Treasury Companies, and spot Ether ETFs that were absent during August rallys. 

As of Aug. 11, total Ether value held by crypto-treasury companies exceeded $13 billion. cryptocurrency’s price surged past $4,300.

On Saturday, blockchain intelligence firm Arkham reported BitMine CEO Tom Lee has purchased an additional $45,000,000 worth of Ether to bring BitMine’s stack total up $7 billion.

August was a big month for Ether spot ETFs

The net flow into Ether ETFs has been approximately $2.79 billion in August. Meanwhile, Bitcoin spot (BTCDuring the same time period, ETFs saw net outflows of approximately $1.2 billion. according Farside

Related: ETH data and return of investor risk appetite pave path to $5K Ether price

NovaDius Wealth Management president Nate Geraci said On Saturday, I posted that there was a “notable shift” Inflows into spot Ether and spot Bitcoin ETFs.

Bitcoin dominanceThe market has seen a drop of 5.88% in the last 30 days, from 58.19% to 58.19%. This is attributed by many to the fact that capital was moving into other markets, including cryptos, outside BTC.

Magazine: ETH ‘god candle,’ $6K next? Coinbase tightens security: Hodler’s Digest, Aug. 17 – 23