Cryptocurrency Bitcoin Bucks Seasonal Jinx With One Of September's Best Gains!

Every four years in Bitcoin history, the reward for Bitcoin miners is halved and the supply of Bitcoin is not reduced, causing the price of Bitcoin to rise during what we know as the Bitcoin Halving. And this time sees the Bitcoin price reach its highest peak and with it the beginning of the altcoin season. Usually we see this price rise in the year or the year after Bitcoin is halved. So these times create a kind of excitement among investors. As we saw in March of this year, the price of Bitcoin was trading at an all-time high. Although the price of Bitcoin later fell and September is historically considered a negative month, Bitcoin is on track for one of its biggest gains in September as a global wave of interest rate cuts recently headlined by the US Federal Reserve. And being on a path to these biggest gains helps the biggest digital asset in a seasonal jinx.

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If we look at the Bitcoin price chart over the past years, we can see that September has been a negative month for the past decade as the average price of Bitcoin fell by 5.9% in September. But in contrast to the present, the token has gained more than 10% this month. This is also a good sign as an index of smaller currencies rose more than 20%. This price increase is usually seen in the US Fed interest rate cut and as well as this price increase it is a sign of easing financial conditions that have revived the riskier parts of the crypto market.

But the best positive news is that the Fed cut interest rates, as well as the European Central Bank and the People's Bank of China all cut borrowing costs in September to support economic growth. As a result, it is encouraging new investors. Investors have responded to more favorable financial conditions by bidding up everything from stocks to gold as interest rates are cut. As this facility is given, a section of investors is expected to generate further stimulus going forward. But as expected, the US Fed's interest rate cut brought some satisfaction to investors. And such a move would result in the Fed's relationship to monetary policy with Bitcoin being the highest. If other central banks adopt the same policy, it will become easier for investors.

However, the Bitcoin price is currently in a good position. Because currently the price of Bitcoin is trading above 65 thousand dollars. However, the approval of spot bitcoin ETFs by the US Securities and Exchange Commission earlier this year was a significant one, and subsequently we saw the price of bitcoin rise to all-time highs. Failure to break "decisively" above US$65,000 could foretell a bearish period for the token. As September is currently at the end and the fourth quantum leap ahead is considered one of the most bearish months or periods for Bitcoin prices in history. Moreover, the US election in November and hopefully the Bitcoin price will increase further. Because we can see from the bitcoin price growth chart that the upcoming fourth quantum is very important for bitcoin and that time can be a great moment for the alt season.