Unusually, Bitcoin Price Rises in September This Year!
2024-09-27
Bittime - Bitcoin It is predicted that it will achieve a new increase this September, mainly due to changes in US monetary policy which is looser and cuts in global interest rates.
This policy provided the impetus for Bitcoin prices to jump more than 10% in one month. This is different from the average Bitcoin price trend which experienced a decline of 5.9% in September over the last decade.
Monetary Policy and Bitcoin Price
One of the factors influencing Bitcoin's price increase this September is the change in monetary policy in the US. The Federal Reserve and several other major central banks, including the European Central Bank, have cut interest rates.
This policy also triggered investors to rush to buy various assets ranging from shares to gold, in anticipation of looser monetary conditions.
Looser monetary policy usually has a positive impact on risk assets, incl crypto- like Bitcoin. This happens because investors look for alternatives that can provide higher returns when interest rates are low.
Read Also: Bitcoin Price Predicted Breakthrough Based on Historical Patterns
Bitcoin Price Rises in September
Historically, September is not a good month for Bitcoin. Over the past 10 years, Bitcoin prices have experienced an average price decline of 5.9% in September.
However, this year, the situation changed drastically. With looser monetary policy, Bitcoin prices actually jumped more than 10%, and recorded one of the largest increases in Bitcoin history.
Global Interest Rate policy and Crypto Market
In addition to Bitcoin, global interest rate cuts have also affected the small token index, which surged more than 20% this month. This shows that loose monetary policy not only benefits Bitcoin, but also the crypto market as a whole.
With looser financial conditions, investors are increasingly interested in investing in crypto assets that are considered to have high growth potential though the risk is bigger.
In this regard, Bitcoin and various other small tokens have become a popular choice among investors looking to take advantage of looser and more profitable financial policies.
Read Also: Bitcoin Price Predicted to Reach New ATH Later This Year
How to Buy Crypto with Bittime
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Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!
Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.
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