From the historical data, it seems that there is a "September curse" in the cryptocurrency circle, but this is not necessarily a 100% event! Look at two factors
I. Negative factors:
1. Although Mt. Gox has repaid most of the bitcoins, its wallet still holds more than 40,000 BTC, and continued repayment may still pose a risk to the price.
2. The US government transferred nearly $600 million in bitcoins related to Silk Road in mid-August. It is not yet clear whether it is for custody or in preparation for sale.
II. Positive factors:
1. The current expectation of the Federal Reserve to cut interest rates in September is very high. If there are no unexpected situations in this week's August non-farm employment data, it will further deepen the Fed's confidence in cutting interest rates.
2. Reviewing the performance of the S&P 500 index before the past nine US presidential elections, the probability of US stocks rising in the three months before the election is 78%, which may also boost the trend of Bitcoin.
3. The selling pressure of Bitcoin miners is weakening, and if it is absorbed, it may form an upward momentum.
4. The volume of BTC and Ethereum is already very large, and there are many fans who believe in them, such as you in front of the screen. If the price drops, they will increase their positions!
