mohammad javad ๐ฉ๐น
@javad3pa
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Bitcoin on Track to Register One of its Best Septembers On Record
Bitcoin is on track to buck its historically poor September performance as a wave of interest rate cuts by central banks throughout the world has been helping BTC surge over 10% so far this month.
The cryptocurrencyโs performance in September from 2010 to 2023, according to CCData, has been an average drop of 4.51%, making it its worst-performing month on record. In contrast, April and November typically show the highest average returns.
The Federal Reserve, European Central Bank, and People's Bank of China all lowered borrowing costs in September to stimulate economic growth, a move that was met with a positive response from investors who bid up stocks, gold, and other assets.
Bitcoin has risen significantly this week to now stand above $65,500, a level that could prove to be โstickyโ over the expiry of a large number of options contracts today, September 27, according to Orbit Markets co-founder Caroline Mauron. 3 replies
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