Bitcoin started the new week with a decline, falling to $57,000. Experts discussed possible reasons and prospects.
Bitcoin Price Drop
Bitcoin fell from $64,000 to $57,000 last week. Historically, September is a negative month for Bitcoin.
Expert Analysis
Founder of the cryptocurrency exchange Paybis, Innokenty Isers, noted the alignment of the current drop with the historical trend of September, also mentioning the potential impact of Fed rate cuts.
Future Forecasts
Analysts predict that the Fed rate cuts in September and the upcoming presidential election in November could help Bitcoin break out of its current downtrend and rise in value.
Bitcoin may overcome its current decline thanks to the anticipated Fed rate cuts and other macroeconomic factors. Experts continue to closely monitor the situation.
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