Bitcoin is currently showing a range-bound price performance, in line with the new market statistics. However, there is a possibility of a volatility spike in Bitcoin’s ($BTC) price by September’s end. As per the exclusive report from CryptoOnchain, the growing uncertainty could pave the way for the potential surge in Bitcoin’s volatility by this month’s end. This dual narrative has grasped the attention of the crypto community members who are continuously observing the market for potential changes.
CryptoQuant Analyst Predicts 1.72% Dip in Bitcoin’s Price over 30 Days
CryptoOnchain carried out an analysis led by the Temporal Fusion Transformer (TFT) model, indicating Bitcoin’s ($BTC) conservative outlook by this month’s conclusion. As per the analyst, despite the current range-bound scenario of Bitcoin ($BTC), the leading crypto asset is set to see considerable volatility by September’s end. The TFT model, which is comprehensively trained on the historical data of Bitcoin ($BTC), predicts a 1.72% downturn over the next 30 days.
TFT Analysis Presents Bitcoin’s Conservative Outlook
According to CryptoOnchain, Bitcoin ($BTC) is poised to experience a decline, slipping from the present $110,669 mark to nearly $108,771 over the month. Thus, as Temporal Fusion Transformer Model suggests, with a 1.72% dip, the top cryptocurrency is anticipated to record dramatic volatility spike during this month’s last week. Keeping this in view, irrespective of the current calmness in Bitcoin’s price, it is going to surprise, reinforcing a considerably bearish outlook over upcoming thirty days.
However, whether his prediction proves to be true or not remains to be witnessed in the meantime, while the market onlookers are consistently watching for the likely catalysts.
