Bitcoin overcomes September “curse” and records an amazing jump!
Bitcoin is close to recording gains of 10% in September, defying expectations of a decline in this month of the year, as it recorded an average decline of about 5% in Septembers over the past 13 years.
Bitcoin rose in the last week by 4.11% to $65,552, approaching the highest level since July.
Chris Newhouse, director of research at Cumberland Labs, said that the $65,000 level was historically a resistance point for Bitcoin in August and September. “We are retesting it.”
Bitcoin traded in today’s trading on Sunday at levels of $65,669, achieving gains of 0.14% over the last 24 hours.
“We’re at $65,000 now, and we’re testing a slow rise, either we break and hold that as a new level of price discovery, or we don’t break higher and see a sharp decline,” Newhouse said.
“We’ve shifted toward a more microstructure-dominated trading environment where liquidations, funding rates and volatility speculation are the primary drivers of price,” according to Bloomberg.
