The October explosion is coming! ?
September always seems to carry a mysterious spell for the Bitcoin market. In addition to the impact of the fiscal year, economic or political factors around the world also tend to be concentrated in September. For example, in 2017, the Chinese government announced a ban on Bitcoin trading, which triggered a sharp drop in the market. Policies and regulations have a huge impact on the price of Bitcoin, especially when these policies are unexpected. The impact of interest rate cuts The current interest rate cut background is a decline in the price level, which means that monetary policy may have a more positive impact on the market. The relationship between the rate cut and market expectations will directly affect the price trend of Bitcoin. The Fed's policy moves are undoubtedly the focus of market attention. If the Fed maintains a hawkish stance, the market may continue to be under pressure; if it turns to easing, the market may rebound.
When will Bitcoin rise?
Bitcoin (BTC) has recaptured the $60,000 mark, but it is too early to celebrate, as a major move will begin once the price breaks the volume-rich zone between $63,000 and $65,000. This will make it possible for BTC to rise to the 2024 peak of $73,777. The Coinbase BTC premium is an important indicator of US demand. If it climbs into the positive zone, we may infer that the risk appetite of US investors has increased. To declare a reversal from the decline, the premium must first fall to a low in the negative zone. If the Coinbase premium remains positive, it may signal growing bullish sentiment in October. Short-term expectations for Bitcoin Although a minor correction may be expected, the recent recovery may be different from the previous pattern. A neutral stance in the short term, with a bullish outlook in the medium to long term. A continued consolidation of Bitcoin at higher levels, coupled with excessive selling at resistance levels, may change the market dynamics.
In the crypto world, the miracle of wealth creation always appears inadvertently.
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