HomeCryptoBetting on a Bitcoin bull run? Not in September, BTC price data...

Betting on a Bitcoin bull run? Not in September, BTC price data says

Bitcoin (BTC) could rating a new all-time excessive in 2021, however the odds are that it gained’t occur subsequent month.

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

September 2021 seems like a traditional for BTC

As Bitcoin matures, it turns into extra noticeable that BTC/USD behaves in comparable methods throughout the identical month annually.

This fall is the clear standout for prime efficiency, particularly in the yr following a block subsidy halving. By distinction, January tends to be bearish — though this yr was a conspicuous exception to the rule.

Turning to September, nonetheless, and the image is uninspiring for traders. Summer could also be over, however traditionally, subsequent month has by no means seen Bitcoin improve by greater than 6%.

“Bitcoin doesn’t like September at all,” Cointelegraph contributor Michaël van de Poppe commented this week.

“Are we going to repeat and have a corrective month across markets, before the continuation of bull cycle?”

BTC/USD historic returns chart. Source: Bybt

Better luck in This fall?

September is already tipped to ship a barely decrease price zone than August, one thing that PlanB, creator of the stock-to-flow Bitcoin price fashions, mentioned is merely a data technicality.

Related: Is the time proper for $50K BTC? 5 issues to look at in Bitcoin this week

Bitcoiners could not want to smile and bear it for lengthy, nonetheless, as October tends to ship far more convincing momentum.

Yet for the meantime, it appears that evidently a retest of all-time highs might want to wait. At the time of writing, BTC/USD traded at $47,600, having misplaced round 1.6% in the previous 24 hours.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView