Cryptocurrency experts have named six factors that will cause bitcoin to grow in September

September is traditionally considered a weak month for cryptocurrencies, but this year analysts see several reasons for the potential growth of the market. In August, Bitcoin BTC $108,339.00 Mezo Wrapped BTC 0.64% Market capitalization $39.71 million VOL. 24 hours $1.54 billion and most altcoins were in a correction phase, but the situation may change.

First, on the daily charts, Bitcoin looks oversold. Historically, this has often led to a recovery and the formation of an uptrend when the pressure of sellers has been exhausted.

Second, the US stock indices S&P 500 and Nasdaq are in a correction phase. If the markets stabilize, investors may again turn their attention to risky assets, including cryptocurrencies, which usually respond to a renewed appetite for risk.

Another factor is the expectation that the US Federal Reserve will cut interest rates. This will increase liquidity, which is traditionally partially directed to equities, gold, and cryptocurrencies. Additionally, the expansion of the money supply in the US and China may increase this effect.

At the same time, Ethereum ETH $4,400.47 Bridged Ether (StarkGate) -1.70% Market capitalization $0.11 billion VOL. 24 hours $1.85 billion is showing relative strength against Bitcoin. If the trend continues, it could spur an altcoin rally. Other positive signals include the US Senate’s preparation to consider legislative initiatives on the crypto market in October and the active accumulation of Bitcoin by large investors («whales»), which is considered a sign of confidence in the medium term.