Bitcoin has revived investor optimism after an August record, when the currency reached $110,000 and the currency reached $124,000.
The end of the month and early September Prices have fallen to $107,000, but are now showing a slight recovery.
The following graph provided by TrainingView shows how Bitcoin behaved last month.
The acquisition of profits by large investors has stopped a more pronounced rise. OG Whale, the owner of a wallet with over 1,000 BTC, won it at the start of the protocol for a price of $10 and began selling after years of accumulation, affecting the price.
On top of that, September has historically been a bearish month for Bitcoin and other digital assets.. This behavior is related to the effects of seasons in the Northern Hemisphere after summer. Investors adjust their portfolios, take profits, and sell risky assets to cover final costs and tax liabilities, as reported by encryption.
The combination of these factors and macroeconomic tensions marks a challenging period in September.
However, future events could change this dynamic. On September 17th, the US Federal Reserve, the central bank of major global financial powers, announces its decision on interest rates.
A general expectation is that Fed President Jerome Powell chose to lower the rates. Interest rate reduction means that it’s cheaper to get a loan. This encourages investors to receive the money they borrow and invest in assets that are considered “risk” such as Bitcoin, other cryptocurrencies and stock stocks.
this Demand for BTC increases, and as a result, prices can be increasedcould break into a typical September trend.
Analysts such as Cryptoquant’s “Crypto Dan” maintain their optimistic vision. According to him, Bitcoin is beyond “Phase 3,” characterized by more gradual and stable growth, away from the sharp peaks of the previous cycle, suggesting a promising future for cryptocurrency.
