Post a Comment Print Share on Facebook

Are you betting on a Bitcoin bull market? Not in September, BTC price data says

BTC/USD is expected to be a classic underperformer in the next month, and 2021, judging from current price action, is no exception.

- 51 reads.

Are you betting on a Bitcoin bull market? Not in September, BTC price data says

Bitcoin (BTC) may score a new all-time high in 2021, but the odds are that it won't happen next month.

Historical price data confirms that September tends to see BTC price losses -- and its best-ever returns are still single figures.

September 2021 seems like a classic month for Bitcoin

As Bitcoin matures, it is more obvious that BTC/USD behaves similarly in the same month every year.

The clear standout in terms of top performance is Q4, especially after a block subsidy reduction. However, January tends towards bearishness -- though this year was an exception to the rule.

Investors are not encouraged by the September picture. Although summer may be over, historically, Bitcoin has not increased by more than 6 percent in September.

"Bitcoin doesn't like September at all," Cointelegraph contributor Michael van de Poppe commented this week.

"Are we going repeat and have a correction month across the markets, before continuing with bull cycle?"

Better luck in Q4?

Already, September is expected to have a slightly lower price range than August. PlanB, the creator of the stock/to-flow Bitcoin price models said that this was a technicality.

However, Bitcoiners don't have to smile and bear it long as October tends not to provide much convincing momentum.

However, for now, it appears that a retest at all-time highs is unlikely. BTC/USD was trading at $47,600 at the time of writing. It had lost approximately 1.6% over the last 24 hours.

Your Name
Post a Comment
Characters Left:
Your comment has been forwarded to the administrator for approval.×
Warning! Will constitute a criminal offense, illegal, threatening, offensive, insulting and swearing, derogatory, defamatory, vulgar, pornographic, indecent, personality rights, damaging or similar nature in the nature of all kinds of financial content, legal, criminal and administrative responsibility for the content of the sender member / members are belong.