Is the crypto market really that bad in September?
Although the crypto market had a bad start in September and the forecast was pessimistic, it may not be that bad in reality. Bitcoin once rose from $15,000 to $74,000, and real bull markets usually start slowly. Although the market performed poorly in September, there were signs of bottoming out, such as the historic golden cross, seasonal adjustments, and open interest levels.
The Federal Reserve expects a rate cut in September, which will stimulate investors to turn to high-risk assets and drive the crypto market up. Three important cryptocurrency conferences in September brought positive sentiment and investment opportunities.
Although altcoins may not be synchronized when Bitcoin rises in the fourth quarter, historical data shows that the fourth quarter is usually the period when Bitcoin and altcoins bottom out and rise. The $16 billion in backlogs after the collapse of FTX began to be repaid in the fourth quarter, which has an important impact on the market, especially altcoin investors.
In short, although the crypto market in September is worrying, it may have bottomed out and is expected to rebound due to macro and conference influences.
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