According to Odaily Planet Daily, cryptocurrency financial services company Matrixport released a chart saying that Bitcoin is about to face the most challenging month of September. Historically, the return rate in September is negative, and this year has added additional pressure, including Nvidia's earnings forecast, the Federal Reserve's policy decision and the US presidential election debate. September will have a significant impact on the price trend of Bitcoin.
Nvidia and Bitcoin have shown strong correlation from the end of 2022 to the second quarter of 2024. However, Bitcoin has not kept up with the recent rebound in artificial intelligence and Nvidia's stock surge. Both asset prices are breaking new lows, indicating a deeper consolidation. The market is about to respond to the US employment data released on September 6.
