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Despite the bearish sentiment, several factors suggest that Bitcoin could outperform its historical average this September. First, the large sales of the cryptocurrency by governments and institutions such as Germany, Mt. Gox and Genesis have already taken place, reducing the potential downward pressure on the market.
wake me upwhen september ends pic.twitter.com/FLIGnF4F0p— Shibetoshi Nakamoto (@BillyM2k) September 1, 2024
Why else?
Another positive factor is the expectation of increased investment in Bitcoin ETFs. Potential inflows of up to $1.5 billion this month could provide a significant boost to the market.
While challenges such as potential Fed rate hikes and regulatory uncertainties remain, the overall outlook for Bitcoin in September seems more promising than in previous years.
As Billy Markus's tweet suggests, many investors may be hoping for a quick end to September. However, the factors outlined above suggest that the first cryptocurrency may be poised for a more positive month than in previous years.