HomeCoinsBitcoinHistorical past and greenback energy sign a tough September forward for Bitcoin

Historical past and greenback energy sign a tough September forward for Bitcoin

Fast Take

Bitcoin’s efficiency within the month of September has traditionally been under par. Since 2013, the ninth month of the yr has constantly resulted in a dip for the cryptocurrency, barring 2015 and 2016. The DXY index, which measures the energy of the US greenback, stands above 103, pointing to a potent catalyst for Bitcoin’s September stoop.

Evaluation from Barchart signifies that the greenback sometimes fares properly in September, which may contribute to elevated volatility for risk-on belongings equivalent to Bitcoin. The frequency of the greenback’s good points in September since 2017 surpasses that of every other month sixfold. Thus, with the greenback’s energy and historic developments converging, September could current important headwinds for the flagship cryptocurrency.

BTC monthly Returns: (Source: Coinglass)
BTC month-to-month Returns: (Supply: Coinglass)
Dollar: (Source: Barchart)
Greenback: (Supply: Barchart)

The put up Historical past and greenback energy sign a tough September forward for Bitcoin appeared first on CryptoSlate.

Supply: https://cryptoslate.com/insights/history-and-dollar-strength-signal-a-rough-september-for-bitcoin/

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