Be sure to stabilize yourself first

On September 16, 2024, the Bitcoin market showed a fluctuating downward trend. As of the time when some media published the news on that day:

• According to the Securities Times, Bitcoin fluctuated downward in the past 24 hours, falling more than 2% to $58,560.6.

• According to the Daily Economic News, Bitcoin fell more than 3% on September 16.

• According to Cailian News, Bitcoin fell nearly 4% on the day, falling below $58,000.

The reasons for this market may include:

• Market expectation factors: As the Federal Reserve’s interest rate decision is approaching on September 18, local time in the United States, market uncertainty has increased, and investors have become more cautious about cryptocurrencies such as Bitcoin. Market expectations will have a greater impact on the cryptocurrency market. Before such a major event, investors tend to adjust their investment strategies, resulting in fluctuations in Bitcoin prices.

• Overall market environment: The overall trend of the global financial market will also have an impact on the Bitcoin market. If other financial assets such as stocks and gold perform well in the market, funds may flow out of the cryptocurrency market and invest in other more stable or profitable assets.

• Industry factors: Some events within the cryptocurrency industry, such as changes in regulatory policies and the dynamics of large trading platforms, will also affect investor confidence and the supply and demand relationship in the market, and thus affect the price of Bitcoin. For example, some countries or regions strengthen the regulation of cryptocurrencies, which may trigger market concerns and cause the price of Bitcoin to fall.