Bitcoin’s “Red September” Test: Will History Repeat Itself?
September is expected to be important for Bitcoin. Historically, it’s been the weakest month for BTC, and so institutional investors usually rebalance their portfolios ahead of the last quarter.
Despite the lingering seasonal concerns, institutional demand for Bitcoin continues to increase. On the retail side, attention is shifting to MAGAX , the first meme-to-earn ecosystem that promises to transform meme coins into tangible utility.
BTC Institution Holdings Go Through the Roof
Institutional players haven’t been discouraged by BTC’s short-term volatility. Strategy, previously known as MicroStrategy, recently revealed in an SEC filing that it purchased another 4,048 BTC for $449 million, bringing its total stash to 635,505 BTC. Now, the company’s holdings are worth over $69 billion, and this represents more than 3% of the entire Bitcoin supply.
Since it first started accumulating BTC in 2020, Strategy has made Bitcoin a long-term treasury reserve asset. Its equity has also become a proxy for Bitcoin exposure, and investors are seeing this as a way to leverage BTC’s prices.
Uncertainty Surrounds Bitcoin This September
Bitcoin surprised investors when it closed August in the red for the first time since April, and this comes amidst the so-called September Effect. September has historically been a weak month for BTC, and analysts are wondering what the next step is for this coin.
Some argue that this year could end this trend. Normally, when August ends in negative territory, September flips green, which means that the selling pressure has already been absorbed. Analysts are expecting a rally for BTC towards $124,500 within the next four to six weeks.
If BTC ends up bullish this month instead of bearish, Bitcoin could gain momentum while heading into Q4.
New Meme-to-Earn Coin Offers Unique Features
As institutions continue to accumulate Bitcoin, retail investors are going for a meme coin with high growth potential, MAGAX. Unlike normal meme coins that depend on hype, MAGAX introduces a meme-to-earn ecosystem. This rewards creators and promoters whenever they post viral memes online.
MAGAX is designed to preserve its value for a long time, and this is possible with the deflationary tokenomics. This locks and burns the tokens over time, so it remains scarce in the long term.
For one, MAGAX allows investors to stake rewards for long-term holding. They can also win referral bonuses for expanding the MAGAX community. The main highlight is that all holders have the right to vote on policies and ecosystem updates.
This has turned MAGAX from a meme coin to a community-driven growth engine. Its diverse features are building a massive community of creators, promoters, Web3 enthusiasts, and developers, and MAGAX does not depend on their sentiment to increase in value.
MAGAX Presale Pulls Investors In
The MAGAX presale is already turning a lot of heads. It covers multiple stages where the token price increases slightly, and so early participants can buy in quickly for a low entry point. Analysts are projecting up to 166x for investors, and this is boosting the investor interest in the presale stage.
Community response to MAGAX has also been strong, with presale progress speeding up across crypto forums and social media. For retail traders, MAGAX is offering a chance to invest in creativity.
Be part of the Moonshot Magax Presale Community:
Website | Whitepaper | Telegram | X (Twitter)
Disclaimer: This media platform provides the content of this article on an "as-is" basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
