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“September is a historically negative month for Bitcoin, as data shows it has an average value depletion rate of 6.56%,” Innokenty Isers, founder of crypto exchange Paybis, said in a Monday email. “Should the Feds cut the interest rate in September, it might help Bitcoin re-write its negative history as rate cuts generally lead to excessive US dollar flow in the economy – further strengthening the outlook of bitcoin as a store of value.”
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Bitcoin (BTC) Price Recovers to $58.3K at Start of Seasonally Bearish September
