Kraken Warns that Bitcoin would Perform Badly in September

News • 2020/09/09 • by Remitano

Kraken exchange stated in last month's volatility report that Bitcoin would perform poorly in September with an average yield of -7%. It revealed that bitcoin had performed less than expected in its average yield for most months this year, and its movement this month would probably be poorer than the previous ones.

Kraken states that BTC produces the poorest volatility in September, proposing that the crypto's volatility might not increase until December 2020.

Bitcoin's correlation in August with Gold surged into a new all time high (ATH) of 0.97 before the sudden drop to 0.25, says the report. Bitcoin exhibited a similar correlation with S&P 500 in August. However, the recent price movement of BTC shows that it is breaking out of the trend with the traditional market.

Source: Cointelegraph

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