Analyst: Bitcoin could drop by 20 percent in September

While Bitcon is considered an opponent of traditional financial assets, this digital asset is significantly influenced by macroeconomic conditions.

While the American Federal Reserve is preparing to apply a new monetary policy in September, Bitfinex analysts warn that the agency's decision could adversely affect Bitcoin's price.

According to a Bitfinex research report, analysts say BTC could drop by 20 per cent if authorities lower interest. They say lowering interests would affect the short-term and long-term instability of the world's largest krytomoid.

While Bitcon is considered an opponent of traditional financial assets, this digital asset is significantly influenced by macroeconomic conditions.

Bitcoin has increased by 32 per cent since the beginning of August, mainly by authorities' comments on lowering interest. Bitfinex said Sport traders are selling aggressively while the Futre and Perpetual are buying.

Analysts predict that if authorities lower interest by 25 points, the market would absorb news faster, resulting in increased liquidity and reduced fears of recession.

However, Bitfinex analysts stressed that conditions are different in the current cycle. Bitcoin has suffered two halves since 2019, and the global economy is not currently facing the challenges of a pandemic.

They believe Bitcoin could lose between 15 per cent and 20 per cent of the value after lowering interest by affecting 50,000 or even 40,000. / PCWorld Albanian

Two secure platforms where you can make your investments in cryptolemade Are Binance i n cex.io. These two platforms also accept payment from Albania, Kosovo and Northern Macedonia.