Matrixport: Historically, the return rate in September has been negative, and the market is about to respond to the employment data released by the U.S. on September 6

2024-08-30 16:31:16
Collection

ChainCatcher news, Matrixport released a chart stating that Bitcoin is about to face its most challenging month, September. It noted that historically, the return rate in September has been negative. This year adds extra pressure, including the outlook for the U.S. tech industry following Nvidia's earnings forecast, the Federal Reserve's policy decisions, and the upcoming U.S. presidential election debate (with Harris facing Trump). This September will have a significant impact on Bitcoin's price movement. From 2022 until the second quarter of 2024, there has been a strong correlation between Nvidia and Bitcoin. However, recently, while the AI rebound has led to a surge in Nvidia's stock, Bitcoin has not kept pace. Both asset prices are breaking new lows, indicating an increase in consolidation depth. The market is about to respond to the U.S. employment data to be released on September 6.

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