Matrixport: August and September Will Be Weak for Bitcoin
Analysts from the Singapore-based platform Matrixport predict that the Bitcoin market will remain sluggish over the next two months: the price lacks strong growth drivers, and trading activity is reduced due to seasonal slowdown.
According to experts, no significant catalysts capable of sparking growth are expected until the Fed’s meeting on September 17. On the contrary, in conditions of low liquidity, the risks of correction and profit-taking increase.
“August and September have historically been the weakest months of the year,” Matrixport notes.
A possible exception could be the situation with U.S. tax policy: it may become a hidden macroeconomic driver, but its impact, if any, is unlikely to be seen before autumn.
Nevertheless, Matrixport maintains a cautious optimism. Institutional investor interest and the growing activity of crypto funds could support the market in the long term and lay the foundation for a price recovery in October.
? As a reminder, QCP Capital previously warned that a strengthening U.S. dollar could lead to a sell-off in risk assets, including Bitcoin.
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