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Matrixport: Historically, September returns are negative, and the market is about to respond to the US employment data released on September 6
2024-08-30 08:22:02
Odaily News Matrixport, a cryptocurrency financial services company, released a chart saying that Bitcoin is about to face its most challenging month, September. It said that historically, September has negative returns. This year has added additional pressures, including expectations for the outlook for the US technology industry after Nvidia's earnings forecast, the Federal Reserve's policy decisions, and the upcoming US presidential election debate (with Harris versus Trump). This September will have a significant impact on Bitcoin's price trend. From the end of 2022 until the second quarter of 2024, there is a strong correlation between Nvidia and Bitcoin. However, Bitcoin has not kept up with the recent rebound in artificial intelligence and the surge in Nvidia's stock. Both asset prices are breaking new lows, indicating a deeper consolidation. The market is about to respond to the US employment data released on September 6.