Bitcoin Price Strengthens in September, Optimistic in October?

Bittime - This month, Bitcoin price showed unexpected strength even though September is often considered a weak month for digital assets. 

Matrixport revealed that although the flow of funds for spot Bitcoin ETFs in the US is slowing, Bitcoin price trends actually indicate greater potential.  

Bitcoin Price in September

Source: x.com/matrixport

The graph from Matrixport above shows that spot Bitcoin ETF fund flows have slowed quite a bit, but Bitcoin prices are actually showing better performance than expected. 

One of the main reasons behind this strengthening of Bitcoin prices is the expectation that the US Federal Reserve might lower interest rates in the near future. 

This potential cut in interest rates provides a boost to risk assets like Bitcoin, which are often considered a hedge against inflation and economic uncertainty. 

Coupled with strong stock market conditions, positive sentiment continues to push Bitcoin prices up.

Read Also: Bitcoin's Positive Trend will Continue Amid US Elections

Bitcoin Price in October

In addition to Bitcoin's strong performance in September, many investors are optimistic about Bitcoin's prospects in October. This month is historically known as one of the strongest months for Bitcoin. 

Based on data from previous years, Bitcoin prices tend to experience a significant increase in October, making it a month anticipated by many investors.

With expectations that Bitcoin will continue to strengthen, many investors see October as a good time to increase their exposure to the crypto market.

Bitcoin Price Strengthens

There are several things that support Bitcoin's bullish trend, not only in October but also in the months to come. 

First, uncertainty regarding US monetary policy is the main driver for investors to switch to assets that are considered safer such as Bitcoin. 

When interest rates are expected to fall, this usually means there will be more liquidity in the market, which can lift the prices of risky assets, including Bitcoin.

Second, a strong stock market also contributes to positive sentiment towards Bitcoin. 

When investors feel optimistic about overall economic conditions, they tend to be more willing to take risks by investing their money in digital assets.

Bitcoin Price in Q4

Q4 2024 is predicted to be an interesting period for Bitcoin. With the potential for interest rate cuts and favorable economic conditions, many analysts believe that Bitcoin prices could continue to rise until the end of the year.

Additionally, interest in spot Bitcoin ETFs, although slowing in September, is expected to rebound as market conditions stabilize. 

Read Also: Altcoin Season Hasn't Arrived Yet, Bitcoin Dominance is Still Strong

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor graphic movement price Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.