What will September bring to crypto?
September has traditionally been a bad month for BTC altcoins. However, with just 14 years past us, we don’t have enough historical data for serious seasonal volatility trading.
What’s more important is news and events that could influence the prices this September. So far the picture looks grim: on September 1, Reuters even published a big editorial about the US regulators’ concerns about the founder of Binance.
The Department of Justice has requested data about Czangpeng Zhao for an ongoing money laundering investigation. The data required includes company documents with instructions on changing or deleting some of the Binance files.
While the header of Reuters’ editorial article may look scary, it doesn’t contain anything sinister. The Department of Justice actually sent the request in 2020, and it’s not even known if CZ responded.
However, it’s not the content or meaning that matters here, but the fact that the article was published: the price of BNB went down immediately.
An even more worrying fact is that the Fed is now going to start taking out the previously printed QE dollars out of the system twice faster. In summer, the Fed was reducing the supply by $47.5 billion a month, and now this will grow to $95 billion.
Under these circumstances, one can hardly expect the value of the dollar to go down or stock prices to go up. Therefore, the pressure on the crypto market, especially on leveraged positions, will also remain strong.
There seems to be no positive news at all. And this, in itself, is the biggest bullish signal of all. If the market starts growing suddenly, it won’t find enough sellers, and we’ll end up with a massive short squeeze.
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