Bitcoin (BTC) trading volume plummets, cryptocurrency exchange volumes fall sharply: What should investors do?
Despite the widespread adoption of the “sell in May and leave” strategy by investors, which has led to weak performance in all assets during the summer, historical data shows that Bitcoin (BTC) usually performs strongly in October, with an average return of nearly 30%. If this trend continues, BTC may usher in a strong rebound in the fourth quarter.
However, cryptocurrency trading firm QCP Capital issued a warning. Data showed that there was no clear candidate advantage in the latest debate between Trump and Harris, which may trigger risk aversion. QCP Capital pointed out:
“The lack of a clear leader in the election, coupled with unclear policy positions of both parties, increases the possibility of risk-off movements in risk assets as election day approaches.”
At press time, Bitcoin is trading at $57,000, just a few hours before the release of the US CPI (Consumer Price Index) data for August.
