What happened this month was that the decision of the United States Federal Reserve (FED) to lower reference rates collaborated with the price of crypto assets.
Bitcoin close September with an advance of 7.7% to $63,470.94 while Ethereum rises 3.6% to US$2,601.82, which means that it was a good month for the cryptocurrencies within the framework of the reduction in interest rates on the part of the Federal Reserve (FED).
There were some cryptocurrencieshowever, which advanced up to 28.5% as was the case of Shiba Inuamong the most operated and recognized. It also rose strongly Avalanche (+23.3%), Doge Coin (+16.1%), and Solarium (+16.6%).
What happened this month was that The decision of the United States Federal Reserve (FED) to lower reference rates collaborated with the price of crypto assets.
In the first week after the FED discount of 50 basis points generated a rise in Bitcoin of almost 6% and exceeded US$63,000.
Investors and operators in general consider that rate reductions as a green light to purchase financial assets, anticipating an increase in asset prices due to looser monetary conditions.
Stocks, bonds and other risky assets are evidently increasing inflows of capital as Lower rates make alternative investments, such as government bonds, less attractive.
What to expect in October
Since 2013, Bitcoin closed 9 Octobers with positive returns and only 2 slightly negative Octobers. Due to these statistical issues, many refer to October as ‘uptober‘. This is a play on words in English that can be translated as “bullish October.”
Source: Ambito
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