BTC/USD: Bitcoin Set for a Progress in September as S&P 500 Stares Into 4% Loss – Trading View
WORLD, Sept. 15 – Crypto bros are so far winning against traditional asset managers. In the final lap of September, no major news is on deck to affect the world leading crypto.
Bitcoin may have finished last week flat but its monthly gains are flexing against the S&P 500. With a week to go before September ends, the orange token boasts a modest 1% monthly gain, while the broad-based stock index is showing a 4% decline for the same time span, Trading View stated.
September was peppered with economic news, but the most significant event was the latest Fed meeting. Central bank boss Jay Powell and co last Wednesday left rates unchanged, but vowed to hike at least once more this year. The announcement kept the dollar well-bid, while knocking the S&P 500 and, to some extent, Bitcoin.
Bitcoin is up a hefty 6% from its September bottom to current market prices around $26,000. However, it’s fallen roughly 17% from its peak for the year – $31,800 per token in mid-July. Year-to-date, the coin boasts gains of just about 60% – sizable returns for a large-cap asset worth $500bn.
As of the time of this news, Bitcoin is trading for $26,059.
