In a recent Twitter Space, Capriole Fund founder Charles Edwards told Cointelegraph that BTC could go lower, but currently reflects “incredible deep value” based on multiple price metrics.
Bitcoin derivatives data also shows sentiment shifting in favor of a massive crash below $20,000, the current psychological support.
KPMG noted that despite the expected downfall, investment figures remained well-positioned in comparison to pre-2021 figures, which highlights the growing maturity of the market.
BTC is losing its safe haven status to the dollar, with mutual funds increasing their cash holdings by $208 billion in the first half of 2022.
Bitcoin has closed its previous five months of September in losses and could suffer similar pains if history repeats.
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