Although September historically is a bearish month for Bitcoin, the United States Federal Reserve will announce decisions about interest rates in the middle of the month, which could change that trend.
Cryptocurrencies operate with generalized increases at the start of this Wednesday, September 3. He Bitcoin (BTC) earns 2% in the last 24 hours and exceeds US $ 111,500 According to Binance, while Ethereum (eth) operates stable, with a rise of 0.6% and around U $ S4.300.
Among the Altcoinsthe trend is mostly positive: particularly the increases of Solarium (+4.8%), Dogecoin (+2.6%) and XRP (+2.2%). In this way, crypto seek to reverse the negative dynamics they had been having in the last week.
In this sense, Eth Follow 4.7% below the comparison against the last seven days. For its part, Bitcoin scores a slight rise of 0.5%. However, It follows almost 11% under your recordwhich he reached in mid -August.
The crypto market looks at the Fed again
Despite September historically is a bearish month for Bitcoin and other digital assets, on September 17, the United States Federal Reserve (Fed), will announce decisions about interest rates.
The general expectation is that Jerome Powellpresident of the North American Central Bank, choose to reduce rates, promoting appetite for risk assets, such as bitcoin and other cryptocurrencies.
In this sense, the publication of the August Employment Report that will be known this Friday will be fundamental. Given that Julio’s bad data was summoned by Fed as one of the reasons why agency officials are reconsidering the course of their monetary policy.
Source: Ambito
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