WILL SEPTEMBER BE A BIG MONTH FOR BITCOIN?

dewontrades1 (28)in #bitcoin • 5 years ago (edited)

This year, September, should be significant.

September has kicked off with refocused attention on Bitcoin. The newly considered safe haven and asset class could find itself being sought after after from a wave of anticipated financial and political events. The largest valued cryptocurrency, by market value, has jumped nearly 6% just over the labor day weekend to recover from last week's price fall.

Bitcoin's rally was followed by reports of increased trade volume in Argentina and Venezeula over the past weeks as the two countries economic and political climates heat up. The Argentine government implemented capital controls on its currency with halted currency exchange out of its' peso for citizens. The Argentine citizen are likely desperate to get out of the debased peso due to hyperinflation. Venezuela continued to see huge amounts its peso traded for Bitcoin on the localbitcoins exchange. However, less amounts of Bitcoin were traded due to a severely weakened bolivar.

These are some very real events that Bitcoin has found itself headlining. However, the main event can be awarded to the Intercontinental Exchanges Bakkt exchange, that has set to open its doors for institutional investors to get exposure to Bitcoin futures trading. Trade earnings are to be settled in Bitcoin- with the volatility Bitcoin harbors, investors may develop a strong appetite for acquiring the digital asset via the Bakkt exchange.

When you add the stock market headed into once of its most grim months based on performance, there could be enough elements to drive capital in the direction of cryptocurrencies- particulary, Bitcoin. Of course there's no real guarantee but most roads could be headed that direction this month.

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