9.4 Bitcoin is affected again! The entire economic environment is worrying!
At 4 o'clock this morning, the U.S. stock market closed, and the three major U.S. stock indexes all hit the largest single-day decline since August 6. There are news reports that this is due to weak data that has once again triggered concerns about economic slowdown. The U.S. stock market started badly in September, and technology stocks collectively plummeted. The new economic data once again triggered people's concerns about the health of the economy. The U.S. stock market "started black" in September.
Then let's look at the market of Bitcoin. In fact, Bitcoin began to fall at 5 o'clock in the morning. At that time, the price of Bitcoin was still above 58,000, and it fell all the way. Then after Bitcoin closed, it was also the time period of yesterday's daily line closing and today's daily line opening at 9 o'clock. Bitcoin fell rapidly. Suddenly, Bitcoin fell to around 55,500.
In my opinion, Bitcoin was affected again. Before the circuit breaker of the Japanese and Korean stock markets, Bitcoin was also pulled down and plummeted. Later, it eased back. Then this time, the U.S. stock market was not very good at the beginning of September, which also implicated Bitcoin to continue to fall.
Bitcoin is now greatly affected by the economic environment. If there is no news or the stock market, Bitcoin will not fluctuate too much. This is actually contrary to our original intention of investing in Bitcoin.
But I still firmly believe that Bitcoin will be independent of the stock market or these news, and will truly go out of its own independent market. I believe that this time point should be after the Fed cuts interest rates once or twice. I think we can still look forward to it.
Then we still have to pay attention to the release of US data. On the evening of September 6, the US non-farm payrolls and unemployment rate will be released. Today is the fourth, which is about 8 o'clock on Friday night. If you want to operate in the short term, I think it is best to avoid this time period.
