Crypto market news: The cryptocurrency market, already reeling from a significant dip, is gearing up for a potentially larger financial event in September. This “Wall Street Earthquake” could have profound implications for Bitcoin, Ethereum, XRP, and the broader digital asset landscape.
Recent Crypto Crash: What Happened?
Many digital assets, including big players like Bitcoin and Ethereum, have recently experienced shocking price declines. The reasons for these dips are multifaceted, but market analysts are keenly observing and trying to correlate these declines with upcoming global financial events.
Cryptos and Wall Street: Love or Hate Relationship?
Come September, Wall Street is predicted to encounter a financial tremor valued at an astonishing $155 trillion. Such a mammoth event has the potential to reverberate throughout global markets, affecting not only traditional finance but also the volatile cryptocurrency sector.
Crypto Market News: Will Major Cryptos go UP?
Major cryptocurrencies like Bitcoin, Ethereum, and XRP might bear the brunt of this seismic event. As history has shown, large-scale financial shifts in traditional markets can have cascading effects on crypto prices and investor sentiment.
Looking back at figure 1, we can see how the total market cap reached the strong support valuation of $1 trillion, and is currently looking to retrace higher. This bound up should occur in September, hence why analysts are anticipating higher crypto prices in September 2023.