Bitcoin had a rough start to September, falling below $53,000, but rebounded on Monday with a 5% increase to $57,000. Greg Cipolaro, head of research at NYDIG, said that this rebound is positive, but that strong positive catalysts for Bitcoin are limited in the short term. Cipolaro reminded that Bitcoin performed historically poorly in August and September, and said that October and the last quarter may be more promising in terms of price.
Emphasizing that investors should also pay attention to factors other than crypto, Cipolaro stated that employment, inflation and the FED's monetary policies in the US will play an important role in this process. He also stated that the US presidential elections in November could have a significant impact on the crypto market. He added that Bitcoin could move in the coming weeks depending on general market conditions.
