Mt. Gox distributions, German and American government sales, US elections and geopolitical tensions, Bitcoin has left behind a summer of ups and downs. Investors, on the other hand, still cannot see clearly ahead of this month, when the Fed is certain to start interest rate cuts.

Usually closed in red

Bitcoin showed a performance that generally closed September with a decline compared to the end of the previous month. In the 11 years since 2013, the largest cryptocurrency, which closed the end of the month in the green only 3 times, has seen a decline 8 times. The largest of these declines was in 2014, when a 19% depreciation was seen. The average of September was a 4.78% decline.

Fed is preparing to cut interest rates

As it is known, the most important issue in September is the FED meeting to be held on September 18… The US Federal Reserve is expected to cut interest rates by at least 25 basis points. Not only cryptocurrency, but all other financial investors have been waiting for the Fed’s interest rate cuts for a long time. While interest rate cuts were thought to bring an increase in the cryptocurrency and US stock markets, some analysts were of the opinion that a 25 basis point cut was priced in.

The Fed will not have a meeting in October. The Fed, which is also empty in August, makes interest rate decisions 8 times a year.

The biggest decline came in April

Bitcoin, which was traded around $58,400 in the minutes the news was written, closed August with a 0.68% decline. The biggest cryptocurrency saw its sharpest decline this year in April, the month of halving. In April, Bitcoin suffered a 14.76% loss in value.

Bitcoin fell to $49,000 in August after the Bank of Japan’s interest rate hike decision, but recovered quickly.