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Bitcoin Posts Best August in Nearly 10 Years With 25% Gain, Driven by Trump's Strategic Reserve Comments; Historical Pattern Suggests Strong Q4
Bitcoin recorded a 25% gain in August (as of Aug. 30), marking its best August performance since 2017. The rally was primarily fueled by former President Donald Trump's comments on Aug. 19 that the federal government might begin buying Bitcoin for a Strategic Bitcoin Reserve. However, some gains were pared after Federal Reserve Chair Kevin Warsh's hawkish remarks at Jackson Hole on Aug. 28, which also ended a nine-day inflow streak for Bitcoin ETFs. Historically, strong August performance, despite it typically being a weak month, has often preceded a robust fourth quarter for Bitcoin.
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