Matrixport: September to be Difficult Month for Bitcoin

IconCryptoNewsTerminal Staff30 Aug, 2024

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Matrixport: September to be Difficult Month for Bitcoin

Matrixport, a cryptocurrency service provider, has analyzed that Bitcoin (BTC) will face a difficult challenge in September. Historically, the return on BTC in September has been negative. This year, additional pressure has been added by the policy direction of the US Federal Reserve and the upcoming US presidential election. The non-farm employment data to be announced next week is also expected to affect the market. These factors will have a major impact on BTC's movement in September. Additionally, Matrixport found a strong correlation between Nvidia and Bitcoin since the end of 2022 and the second quarter of 2024. However, Bitcoin has not followed the rising trend of Nvidia. Both assets are also being adjusted.

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