🤔 What Should Investors Expect From Bitcoin (BTC) in September

The Bitcoin (#BTC ) price was moderately disappointing in August, following the drop at the beginning and end of the month.

The broader outlook for the king crypto asset is still bearish, but certain macro-financial developments could alter this outcome.

🔸 Up Next for #Bitcoin

Bitcoin’s price is hovering under $60,000 at the moment after noting a 7.5% decline over the last week. The coming month could continue this streak until “Uptober” arrives when the investors expect BTC’s recovery to resume.

💬 “September is a historically negative month for Bitcoin, as data shows it has an average value depletion rate of 6.56%. Thus far this month, the investor sentiment around Bitcoin has been negative as the coin has traded between $49,000 and $66,000,” Innokenty Isers, Founder and CEO at Paybis, told BeInCrypto.

However, Isers also factored in the potential for a rate cut, which the macro-financial market highly anticipates.

💬 “Should the Feds cut the interest rate in September, it might help Bitcoin re-write its negative history. This is because rate cuts generally lead to excessive US Dollar flow in the economy. This reduces the Dollar’s purchasing power, further strengthening the outlook of Bitcoin as a store of value. Many institutional investors are already proving this point with massive Bitcoin accumulations. If the Fed’s policies weaken the dollar, switching to risk assets with higher growth potential might be inevitable,” Isers explained.

This outcome falls in line with the macro Market Value to Realized Value (MVRV) Ratio’s position. The MVRV ratio assesses investor profit and loss. Currently, Bitcoin’s 90-day MVRV stands at -4.8%, indicating profitability and possible buying pressure.

Historically, Bitcoin MVRV between -2% and -12% have signaled the start of recoveries and rallies. These instances were noted in mid-June 2023, early October 2023, and more recently at the beginning of July this year.