$BTC
🚀🚀 3 Reasons Why Bitcoin’s (BTC) Price Could Rebound in September: Details
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🔑 Key points:
Bitcoin’s recent downtrend could soon give way to a renewed rally due to emerging positive signals.
On the other hand, some indicators suggest the market correction might not be over yet.
Bitcoin experienced enhanced volatility in the past several weeks, with its price swinging in the $55,000-$65,000 range. In the last few days, the asset’s valuation dipped towards the downside mark, causing concerns that September might offer further pain for the bulls.
However, there are three important factors that could trigger a renewed rally. The first, and arguably the most important, is the potential pivot from the US Federal Reserve. America’s central bank is expected to lower the interest rates following its next FOMC meeting scheduled for September 18.
Next on the list is the whale’s activity. As CryptoPotato reported, large BTC investors have been on a buying spree lately despite the price dips. Those holding between 100 BTC and 1,000 BTC now control over 20% of the asset’s circulating supply, equivalent to approximately $230 billion. Moreover, the number of Bitcoin wallets holding 100 BTC or more has reached 16,120, or a 17-month high.
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