September historically tough for Bitcoin, but experts believe this September could be more positive

From Investing.com

September 2, 2024 10:00 AM:

September has historically been tough for Bitcoin, with an average -6.18% profitability. But experts believe this month could buck the trend. Billy Markus shared a Green Day quote in response to Bitcoin’s drop below $59,000, down to $57,128. Governments and institutions have already sold large amounts of Bitcoin, lessening downward pressure.

Long-term holders are accumulating Bitcoin, indicating faith in its future. Inactive top wallets are decreasing, reducing chances of sudden sell-offs. Expectations of increased investment in Bitcoin ETFs could bring in up to $1.5 billion this month, providing a significant market boost. Despite challenges, Bitcoin’s outlook for September appears more positive than in past years.

While September may make investors eager for its end, factors like reduced selling pressure from large sales and increased investment in Bitcoin ETFs suggest a potentially more positive month for Bitcoin.

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