Tuesday, September 28, 2021
HomeNewsHope for a Bitcoin bull run? Probably not in September

Hope for a Bitcoin bull run? Probably not in September

Bitcoin (BTC) could hit an all-time high in 2021, but the chances of it happening in the next month are very slim.

Historical price data shows that Bitcoin usually makes losses in September. The best plus ever achieved in a September is single digits.

September 2021 probably confirms the rule for Bitcoin

As it matures, it becomes increasingly clear that Bitcoin behaves similarly in the same month each year.

Fourth quarter known for doing best here. This is especially true in a year after the block reward has been cut in half. In contrast, January is usually a weak month. However, this year is a clear exception to the rule.

In September, however, it looks rather meager for investors. Summer is drawing to a close in the month and Bitcoin has never risen by more than 6 percent in the past.

“Bitcoin doesn’t like September at all,” said Cointelegraph employee Michaël van de Poppe this week in one comment.

“Will this repeat itself, correct it, and then go on with the bull cycle?”

BTC / USD historical development chart. Source: Bybt

Better luck in the fourth quarter?

A somewhat lower price zone is already expected for September than in August. The creator of the stock-to-flow model PlanB believes that this is just a technical data matter.

In this context, is it now $ 50,000? 5 important things to do with Bitcoin this week

Bitcoiners do not have to worry, however, as October usually shows a much more promising development.

Until then, another test of the known all-time high will probably have to wait. At press time, the BTC / USD pair was trading at $ 47,600, down 1.6 percent in the past 24 hours.

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

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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