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Showing 20 of 8,469 results by EarnOnVictor
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Board Bitcoin Discussion
Re: Today is the story of my investment in Bitcoin
by
EarnOnVictor
on 24/07/2022, 18:18:41 UTC
I decided yesterday morning that I would buy 1 bitcoin from this dip market. But I did not have enough money.  With which I can buy 1 bitcoin. I had an Fixt Deposit of $ 6,000 in the central bank. And the bank would paying interest at the rate of 5.5% APR. I broke it down yesterday and decided to buy Bitcoin with that money. But with this money I will not be able to buy 1 bitcoin.  On the other hand, my dream and desire is to buy 1 bitcoin. I then decided to take a loan and applied to the bank for a loan. But I told the bank that I would use this money for business. The bank agreed to give me a loan of $10,000 at 10% APR interest. I take advantage of that opportunity and take out a loan. And the remaining $ 4,000 I borrowed from my uncle and promised to pay him 8% APR interest, which is more then bank interest. Finally i bought just now 1 BTC price at $20,000. It gives me a different feeling That feeling I have never had before. I think if I hold this bitcoin for 2 years I can get 100% -500% profit. Then I will be able to easily repay my debtors with an average interest of 18-19% in 2 years as an average of 9.something% APR and I will be able to keep a huge profit.
This is a very good investment story from you but you had better be a good Bitcoin analyst to make this risk worth it. First, you did well by taking the risk, without risk, no one will make money, but borrowing money for this kind of investment plan is what I would not subscribe to (though Bitcoin will surely yield for you, the time it would is my consideration here). This is not to discourage you as you invested at the right time when Bitcoin is still at the bottom. Yet, no one could 100% guarantee any investment, and Bitcoin is not an exception. If I were you, I might have done it differently by investing only $6000 I own to have the rest of my mind and even limit my risk, then be saving for more opportunities like this in the future. Lastly, I hope you will smile at last with this investment, but try to read the Bitcoin chart very for guidance on this investment plan. Good luck to you!
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Board Bitcoin Discussion
Re: Would Bitcoin recover even if it fell to one dollar?
by
EarnOnVictor
on 25/07/2022, 08:21:14 UTC
How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?
As an expert investor myself, I will say that Bitcoin has come to stay and it has a solid foundation that would not be reset to $1 anymore no matter the circumstance of its crash. Regardless of this, assuming it reaches a bottom of $1 per BTC as you indicated, the investors' confidence would nearly be zero and it would be unlikely for it to grow back. If the reason for its crashing is temporary in such a way that the currency could later be vindicated, then it might rise steadily after the vindication is well established to grow back investors' confidence. But if what crashed it is genuine and effective to the point that investors do not want to deal with it again, it might not grow back to a reasonable price in several decades.
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Board Bitcoin Discussion
Re: There will be 1 billion crypto users by 2030 - research
by
EarnOnVictor
on 28/07/2022, 07:09:15 UTC
One billion people is a lot of users, especially when it comes to digital assets and cryptocurrencies. That's why the Boston Consulting Group (BCG), Bitget, and Foresight Ventures conducted a study to research the current status of cryptocurrency adoption. They discovered that while crypto adoption is still in its early days, the trend is pointing toward one billion users by 2030.

According to the research, currently, only 0.3% of the total individual wealth is distributed in the form of digital assets.

In comparison, 25% of people’s funds are allocated to equities such as shares of private companies. This stat highlights how undervalued cryptocurrencies still are. With more awareness and education, we believe that the number of cryptocurrency users will only continue to grow in the coming years.

If the current trend of cryptocurrency adoption continues, it is not unreasonable to think that the number of users will indeed reach one billion in the next 10 to 20 years. After all, the total number of users has more than doubled in the first six months of 2021 alone. This is a testament to the growing popularity of cryptocurrencies and the increasing awareness of their potential.

There are many factors that will contribute to the growth of the cryptocurrency user base in the coming years. For one, more and more businesses are beginning to accept cryptocurrencies as a form of payment. This is making it easier for people to use cryptocurrencies in their everyday lives. In addition, as awareness of cryptocurrencies increases, more people are likely to invest in them.

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2030 is near already, it is just 8 years from 2022, so I don't think it is feasible for Bitcoin to hit the landmark of 1 billion users that quick. With my recent research, I discovered that slight over 180 million users are currently using Bitcoin. This means that if your proposed target of 1 billion users is to be achieved, an extra of slightly less than 820 million users would join. This seems impossible to me because as Bitcoin is enjoying the support of some countries, many other countries are still against it. More is still needed to be done for Bitcoin to be acceptable by some people and regions, and more time is required to achieve this as well. If correct, Bitcoin needs many decades to hit that target.
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Board Bitcoin Discussion
Re: why is bitcoin price important?
by
EarnOnVictor
on 30/07/2022, 06:45:31 UTC
alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.
There are opportunities inside an opportunity, that is what Bitcoin has created. The decentralized mode of payment might be the initial and main goal of Bitcoin but the cryptocurrency has proven itself to be more beneficial to the extent that its first purpose is now a small fraction of the functionality of it.

 We can't blame that on anything, it now depends on individuals and what they intend to do with their Bitcoin among the many ways it could be used (Payment, investment, trading, lending etc.)
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Re: Why are so many Derivative Exchanges are filling for Bankcruptcy ?
by
EarnOnVictor
on 30/07/2022, 05:54:24 UTC
Just came across a latest news that "Zipmex" is another exchange which have filed for Bankruptcy , after Voyager and others.. What do you think is the real reason for so many exchanges going down.

1) Could the reason be that they have inflated their trading volume , which is now they cannot sustain the real volume at time of dip

2) They lack liquidity

3) Exchanges have invested their liquidity somewhere else which is becoming hard to recover

4) Does it has to do anything with the global inflation that we might see in coming future

5) Do you think its good for the market where cheap players would be shutting down and people can have more robust platforms in future where they would be ready in situations like this.

6) Most Importantly its the people's money, will traders be able to cope up or have faith in trading crypto in future if they lose money like this??



In summary, any company could go bankrupt, including exchanges, and the reasons are many but do not mean that others in the same line of business are not doing well. This is why traders and investors should be careful and do thorough research before trusting any company with their money.

The reason for the bankruptcy might be due to unplanned business, mismanagement, more liabilities than they can cope with, harsh business environment, lack of funds and loans, and many other reasons. Yet, I don't think this should discourage traders and investors that mean business as they can always go for the best alternatives.
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Board Bitcoin Discussion
Re: Fed raises rates, crypto prices rise as a result
by
EarnOnVictor
on 30/07/2022, 06:22:56 UTC
Fed indeed increased the Federal Funds Rate on Wednesday by 0.75% and the US interest rate is now at 2.50%, the highest figure in over a decade.

From my experience, I expected no one to know what the cryptocurrency would do due to the decision because it has always been like that for traditional assets. Interest rate decisions, whether hiked or cut might set assets in any direction as market sentiments might not always be the same.

Nonetheless, the high rate hike of 0.75% is due to high inflation plaguing the US and the world at large, and the long-term effect of this hike should cause declines in the crypto market as Bitcoin and others are no more viewed as safe-haven currencies.
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Board Altcoin Discussion
Re: How do you know when to sell?
by
EarnOnVictor
on 25/07/2022, 08:51:44 UTC
Do you have any pattern that you see or watch in the market to determine time to sell your hodlings and take your profit ?

Do you regret not selling your coins at any point because you didn't know it will drop ?

Can you share your opinion
There are two major ways to know when to buy or sell your a cryptocurrency. You can either follow the news, but be sure that you have the right interpretation of the news before doing that. I don't follow this style even though it is effective because it is deceptive at times. Many news has failed in their right interpretations or raised a false alarm, and the news impact might be deceptive. The second option which is my preferred way to know when to buy or sell a cryptocurrency is to use technical analysis, where chart patterns would guide you on what to do. You will sell when a peak/high is established or buy when a low/bottom has been established. You can also buy or sell after a breakout, and simple trading tools like price action, trendline etc. could effectively guide you in this regard.
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Board Bitcoin Discussion
Re: Bitcoin is dead!
by
EarnOnVictor
on 24/07/2022, 18:01:13 UTC
By now, Bitcoin has put to rest the opinion that it is dead, no right-minded person should think otherwise. It has set aside the doubts of many people, including me, which made it this late before I joined a good forum like this. Nothing without a bright future could have survived over a decade of several conditions (both good and bad) and still gets more recognition every day. Bitcoin is here to stay and has even reduced the disparities amongst nations of the world in terms of the discrimination of payment systems whereby some countries are arguably deemed superior to others, which is very bad. More DCA Bitcoin by me this year as it is at a bottom where it could trigger some highs before the end of this year.
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Board Bitcoin Technical Support
Re: Lost seed recovered BTC stolen
by
EarnOnVictor
on 01/08/2022, 12:31:42 UTC
I found my lost seed and recovered my electrum wallet; only to find that wallet had been emptied.     10.78134 BTC gone, now 0. Can anyone explain to me how that is possible. How did someone successfully hack my account.
10.78134 is huge, I hope you are being sincere here. Many factors might be responsible for that and electrum is in the best position to furnish you with accurate answers. First, you might be careless with the seed phrases and someone close to you might have discovered them unnoticed to steal from you.

But in case electrum confirms to you that your wallet was indeed hacked, then there is nothing you can do as Bitcoin wallets are also susceptible to hacking. You might only want to try compensation from electrum if indeed is not your fault. They might also try on their path to trace the transaction, unfortunately, hackers are smarter these days.
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Re: MY DAILY BITCOIN SPECULATIONS AND VIEWS
by
EarnOnVictor
on 27/08/2022, 09:34:54 UTC
What happened yesterday shows that Bitcoin is still unwilling to take sides as the battle of short-term supremacy continues between the buyers and the sellers. A false breakout occurred after it breached 21677.65 higher but could not sustain the buying as it topped at 21816.73 before retreating lower till now. Presently, the market is battling to break below the current trendline support on the 4H chart which is lower than yesterday's level at 21344.89. A 4H candle close below it will add bearish credence to what the market would do today.



My preference has however shifted to the daily chart which gives a better insight into what the market might do today. The market is still moving in a tight bound on the chart, so caution is needed. Yesterday's market ended negative and created a Doji on the daily chart. This suggests a negative bias today as a reversal is possible within the sideways movement still seen with the last 7 candlesticks formed on the chart.

Regardless of that, the price action of the last two candlesticks is bearish, which makes me believe that Bitcoin might sell today. But this is provided it stays below 21690.67 (today's opening price) and breaks below 21310.16 (yesterday's low). The Stochastic oscillator is not a problem anymore, it is not oversold again just as MACD continues to be negative in favour of this bearish expectation.



Congratulations to those who read my speculation and perhaps use it in their trading plans yesterday. Bitcoin eventually find a path on the bearish trend which was my preferred bias for the day. My analysis of yesterday remains valid today but anyone should be careful of the oversold condition on the lower charts. The market might continue selling or wants to first retrace higher before continuing the selling, so be careful. The major supports in sight are at 18910.72 and 17625.00, which is the low of June 2022.
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Re: FIFA 2022 world cup
by
EarnOnVictor
on 27/08/2022, 11:11:27 UTC
Oh!!! Shocked Shocked My bad, it has totally escaped my mind. It is true that Italy lost to North Macedonia in March. A lot is on my head, so it is allowed. My preferences are now between Germany and Spain, while Germany is still my first choice. I have updated this in my first post. Thanks!


I still don't understand why they are betting on Spain when she almost missed out on this World Cup, it only entered the playoffs and with great difficulty.
Anyway... Germany is a good bet, but I still believe that Brazil has a great chance of winning this year, because it had an impeccable campaign in the qualifiers and has a very young and competent team... It's not just Neymar's team..
Everyone has their own standards why they decide to choose one name to be the favorite in the World Cup. It is natural even though our views are very much different. I myself will enjoy their game at least until the group stage, their game seems to affect my prediction to speculate who is more deserving to win the title.  Grin
This is funny, yet I am glad that you a bit acknowledge that they will perform in this FIFA world cup, I mean Germany and Spain. The group stage should be a workover for them as far as I expect, and Germany would not want the last world cup situation to repeat itself. And if I may ask, what is your favourite country to win the competition?
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Board Speculation
Re: MY DAILY BITCOIN SPECULATIONS AND VIEWS
by
EarnOnVictor
on 28/08/2022, 06:31:37 UTC
No doubt, Bitcoin is in a bearish trend as the weekly and daily charts confirm it. Yet, we should be wary of the oversold condition on the lower charts, this made me move down to the 4H chart today for a closer look.

On the 4H chart, the market has been making efforts to take a breath higher from the selloff seen in the past two days, it might want to retrace more today before resuming its bearish movements which I will confirm when happens. I expect the retracement to halt at or below the trendline support at 21280.65 and bring about the fall resumption that might make it continue its bearish journey towards 17625.00. A break of that level would mix the outlook of the market.

This is the highly possible scenario as the MACD on the on the 4H, 1D and 1W charts are all negative.

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Board Bitcoin Discussion
Re: What could be the future of Indian Crypto Traders and Investors
by
EarnOnVictor
on 27/08/2022, 11:00:19 UTC
Hi

After Wazirx been scrutinized by ED (Enforcement Directorate ) , another exchange which has been raided by ED is Coinswitch Kuber

https://www.businesstoday.in/crypto/story/ed-raids-5-premises-linked-to-crypto-exchange-coinswitch-kuber-including-ceos-residence-345606-2022-08-26

Q1) What could be the future of Indian Crypto Traders and Investors

Q2) Are all these exchanges involved in Money Laundering or some kind of illicit Activities

Q3) They are providing instant loan from their liquidation which is ultimately people's money

Read more at:
https://economictimes.indiatimes.com/tech/technology/ed-searches-coinswitch-kubers-five-locations-under-money-laundering-probe/articleshow/93784283.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Q4) Does these exchanges working without any license or legal approvals

Q5) Are other existing exchanges fall under the same category

Q6) Is it the  time for people to switch to peer to peer
In summary, India is one of the countries that do not hide their dislike for crypto, which to me is gross and caused by a lack of proper education about cryptocurrency. What I believe any reasonable government should do is regulate it effectively so that they don't deprive their citizen of the benefits that crypto brings.

Also, we should not be ignorant of the illegality of the exchanges others dealing with cryptocurrency as well which no serious government would accommodate. However, I fear for the future of crypto in the country if the Cryptocurrency and Regulation of Official Digital Currency Bill of 2021 are finally assented to by the president. The bill will prohibit all the private cryptocurrency companies in the country and the case will be like that of Nigeria. So, P2P may then be the other of the day.
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Board Bitcoin Discussion
Re: Why I Disliked Bitcoin
by
EarnOnVictor
on 28/08/2022, 07:43:37 UTC
Nothing to regret or feel kinda stupid here, if bitcoin wasn't interested and didn't grow as explosively as it is today then you could say the OP was a bit stupid at the time. You should know that the explosion of bitcoin is unpredictable even if it is Satoshi.
I believe the early adopters also sold out their bitcoins shortly after the price of bitcoin went up 10x or 100x, very few people could hold them until today. There is still time to invest in bitcoin, it is still possible to become rich if you invest in bitcoin today and hold it for ten years or even twenty years from now.
Thank you for this, it shows that you have sense and fully understand both human psychology and the psychology behind Bitcoin itself.

I believe that the narrative of "only bad guys use bitcoin" has got to be propaganda of Bitcoin opponents who actively have something to lose (in most cases, obviously profit) from the mass adoption of Bitcoin.
Everyone has the right to their decisions and for someone to dislike Bitcoin means that they have their reservations, but not necessarily mean that they are the opponent. The reason for many to dislike it or have their reservations might be genuine which I will always respect despite now using Bitcoin myself.

the narrative about bitcoin is only used by bad people even today it is still rippling loudly around
I am sure you are misinterpreting people, how lame could it be to say that Bitcoin is being used only by the bad people? More good people use it of course. But we can't ignore the fact that Bitcoin is also being used by bad people because of its decentralization. Loopholes everywhere. I will always be factual.

I don't see any meaningful reason why some set of people who just hate bitcoin. The truth is that anyone that hates bitcoin lack knowledge.
First, hate is different from dislike, and many have reservations about Bitcoin that are genuine for real. Many do not lack knowledge as you ignorantly insinuated but can't just deal with a largely unregulated entity, you have to respect that. The present advancement and more regulations might soon make it more adapted.

Op while your story is so understanble
What is not understandable in this story? I guess you rushed the reading, so I challenge you to read it again.
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Re: I've been confused in BTC
by
EarnOnVictor
on 23/08/2022, 10:42:45 UTC
I am very disappointed with the state of Bitcoin in the current market. Because last week its price was 24000 dollars but now it shows 21 thousand dollars. I want to know from you, is the price of Bitcoin likely to fall further?
I understand your frustration as you might be one of the people that hold BTC or are in a bullish position on the spots/futures trading. Any which one it is, it's good to be a speculator to avoid this feeling. However, I don't think it's proper to emphatically say Bitcoin will rise or fall at this moment, but it has a long-term bearish trend. This does not still mean it won't buy but I will regard it's buying as a correction of a broader bearish trend until it breaches above 25214.61 (August high) and 26337.38 (A weekly chart trendline resistance).

You might want to regularly visit https://bitcointalk.org/index.php?topic=5410763.msg60799289#msg60799289 for updates on what Bitcoin might do.
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Board Trading Discussion
Re: Do we gamble or trade?
by
EarnOnVictor
on 21/08/2022, 20:34:28 UTC
I will also not disagree with that trading and gambling those are two different platform. But sometimes trading is also gambling, especially when a trader goes into futures trading.  There are chances of losing the entire fund in an instant much like gambling. Then when people go to invest in meme coins it's pretty much the same. Even then for those reason we shouldn't combine trading and gambling
What are you saying??? You might trade or gamble in any trading sector whether holding, spot, future and many more, it does not matter. What matters is the knowledge and strategy you are playing it with. You will trade when you have good plans that are time proven and you do what you know carefully without emotions. But you gamble when you deviate from your trading plans or do what you do not know or plan for.

do not equate traders with gamblers, trading requires knowledge and of course you have to learn,
but gambling does not need knowledge and just chooses what it likes, for example choosing who wins,
and choosing long or short without knowledge, yes it is gambling, but traders smart will not gamble!, remember that
You are making sense here but did not explain it well. Mind you, trading and gambling could be done by a well-learned person/trader. The only difference is that a trader will have a plan and actualize it, while a gambler will not due to many factors in which lack of learning, good plan or emotion might be involved.

Trading and gambling is totally different it is true, but when someone invest his all fund only in one token or coin and take high risk for get huge profit / loss then it will like gambling . but when someone invest his fund in multiple coins and take next normal risk then it called trading .that's it
You are so wrong about this, you might take a high risk and not gamble, and you might take a low risk and gamble. The difference between gambling and trading is just that in trading you are well informed about what you want to do and have the right plans to achieve the goal. You don't just dabble into things in trading, unlike in gambling.
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Board Bitcoin Discussion
Re: Crypto and Bitcoin began to be known by the rural community
by
EarnOnVictor
on 27/08/2022, 10:46:27 UTC
First, the picture you showed does not look rural to me, yet it is good to see someone wearing a Bitcoin shirt. The awareness about Bitcoin is on and I know that with time the remotest areas of the world would hear about it. But more civilization is still needed in so many rural areas because the challenge they will have is the lack of internet facilities, while some don't even have electricity. It will take time, sponsors and several awarenesses for this to be achieved in full.
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Board Speculation
Re: MY DAILY BITCOIN SPECULATIONS AND VIEWS
by
EarnOnVictor
on 26/08/2022, 06:40:06 UTC
What happened yesterday shows that Bitcoin is still unwilling to take sides as the battle of short-term supremacy continues between the buyers and the sellers. A false breakout occurred after it breached 21677.65 higher but could not sustain the buying as it topped at 21816.73 before retreating lower till now. Presently, the market is battling to break below the current trendline support on the 4H chart which is lower than yesterday's level at 21344.89. A 4H candle close below it will add bearish credence to what the market would do today.



My preference has however shifted to the daily chart which gives a better insight into what the market might do today. The market is still moving in a tight bound on the chart, so caution is needed. Yesterday's market ended negative and created a Doji on the daily chart. This suggests a negative bias today as a reversal is possible within the sideways movement still seen with the last 7 candlesticks formed on the chart.

Regardless of that, the price action of the last two candlesticks is bearish, which makes me believe that Bitcoin might sell today. But this is provided it stays below 21.690.67 (today's opening price) and breaks below 21310.16 (yesterday's low). The Stochastic oscillator is not a problem anymore, it is not oversold again just as MACD continues to be negative in favour of this bearish expectation.


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Board Gambling discussion
Re: Italian League Prediction Thread (Serie A)
by
EarnOnVictor
on 27/08/2022, 11:38:35 UTC
My bet on both teams to score won for Lazio - Inter game. However I wasn't expecting Inter to lose this game like this. Even though Inter found many more goal chances they still lost by 3-1. Everything happened in the last fifteen minutes of the game actually. Pedro did a great job in this time period by scoring one goal and making an assist as well. He is still really helpful for his team at the age of 35. By the way Lazio won here by the same score last season too. They still kept their superiority over Inter by this season.
Lazio has given up a good fight, they deserve to win. The opportunities were there for both sides but luck and chances used well are on the side of Lazio. As for Inter, they will always bounce back, this is football, game changes but they could have done well against Lazio as it is not a small club either with hope advantage that also finished well last season just below Inter itself. With Lukaku now in the club from Chelsea, Inter should perform better this season. Hope the form and zeal are there in this return.
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Board Bitcoin Discussion
Re: The September effect
by
EarnOnVictor
on 27/08/2022, 10:37:27 UTC
With a previous record of failure, can investors and hodlers alike still hold instead of closing their stock or is this year going to be different since BTC is trading at $21,406 as at the time of writing.
Let me start by saying the more we look at times, the lesser we see, this is why I don't search too deeply on the things that pertain to Bitcoin and other markets because some economic reviews and statistics could confuse us, or just be a distraction. Without wasting time, four factors are to be watched for this September which is as follows;

1. Inflation figures
2. Market sentiment
3  Ethereum Merge
4. Other unexpected news

I mentioned Ethereum merge because its news helped cryptocurrencies including Bitcoin to rise in July. Who knows what its realization in September could be?