Bitcoin may face a tough month in September, according to analysts. The cryptocurrency has historically performed poorly in September, and with the slow-moving Securities and Exchange Commission (SEC), rising deficits, and uncertain Federal Reserve (Fed), the outlook doesn’t look positive. Additionally, the S&P 500 also struggles in September. The Fed is considering more aggressive rate increases, and there is concern about inflation. Cryptocurrency investors should also keep an eye on the growing US budget deficit, as it could lead to a shortage of buyers. However, if the Fed changes its strategy and engages in money-printing, Bitcoin may outperform stocks.
AI Sentiment: Negative