September Updates
After an intense August in which micro and macro factors provided significant volatility, Bitcoin price movement managed to provide both a weekly and monthly candle favoring the bears.
Here are some highlights of why the cryptocurrency markets may become even more volatile during September:
- The Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium moved both the stocks and the cryptocurrency markets down. Watch the speech remarks below:
‘There Is Clearly a Job to Do:’ Fed Chairman Powell Speaks at Jackson Hole Symposium | WSJ
- US dollar hits new 20-year high. Read more here.
- The total altcoins market capitalization excluding Bitcoin dropped to $551 billion reaching its lowest since the beginning of August 2022.
- ETH whales move holdings onto exchanges before Merge.
“The top 10 Ethereum non-exchange addresses have seen an 11% decline in their holdings over the past three months, while on-exchange whale addresses have seen a 78% increase.” Source: Cointelegraph
- The long-anticipated Ethereum Merge upgrade is coming in September.
The Merge is a change of a consensus mechanism that will transition the Ethereum blockchain from proof-of-work to proof-of-stake. As per Vitalik Buterin, the Merge upgrade is now likely to take place around September 15th. The exact date will be announced soon.
- FOMC(Federal Open Market Committee) meeting on interest rate hikes will be held on 20–21 September.
Bitcoin’s price in August has had little impact on most of the algorithmic trading strategies in the Mercor Dapp. Let’s have closer a look at the AI ALPHA LINK strategy by AI Alpha which currently has a 22.49% APY:
The AI ALPHA LINK Algo Trading Strategy at Glance
AI Alpha LINK is developed by a professional team of quantum engineers who developed multiple strategies and fine-tuned them over the past several years. Their benchmark is beating the market and beating the Buy & Hold strategy! AI Alpha LINK is a multiple indicator strategy developed using technical indicators empowered with machine learning to catch trends early and stay in as long as possible.
Copy Trade the AI ALPHA LINK Algo Trading Strategy here.
Automated Algorithmic Trading by World Class Algorithms
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Are you an investor or a trader with an interest in algorithmic trading? Head over to app.mercor.finance and enjoy world-class algo trading strategies!