The post History Repeats: Bitcoin’s September Crash-Is October’s Epic Bull Run on the Horizon? appeared first on Coinpedia Fintech News
In the past 11 years of Bitcoin’s history, there have been only 3 years when Bitcoin was bullish in September. In the remaining 7 years, September has always been a bearish month. During September 2014, Bitcoin saw its highest loss of 19.01%. And the lowest was in 2013, which was 1.76%, a figure Bitcoin can move beyond in a single day now.
Talking about bullish power in September, in 2016, Bitcoin gave a profit of 6.04% during this month. However, it is worth noting that Bitcoin often experiences a significant boom in October. This time, there will also be US elections at the start of November, and Donald Trump could be one of the elements influencing the crypto market. Therefore, October might also be quite bullish this time.
This covers the bearish aspect of September. Looking at what happened to btc after this month can give us a pretty good idea of what to expect in the next month.
After crossing the bearish month of this month in 2020, Bitcoin continued to rise until April 2021 and reached an all-time high of $64,000. The same happened in 2021, with Bitcoin reaching $69,000. September 2022 was very harsh for Bitcoin as it continued to decline until December. In 2023, Bitcoin maintained its pattern, and the bulls took Bitcoin to $73,000.
Based on historical data, it seems that September being bearish for Bitcoin actually leads to a bull run. So, could the bull run that everyone is waiting for, be seen starting in October? Perhaps this is why many whales offloaded Bitcoin to buy in the anticipated dip of September and enjoy the bull market afterward. Bitcoin has already fallen by around 4.53% in the first 4 days of September 2024. Whether this month will end up being bearish or bullish, well, only time will tell.