Bitcoin (BTC) and the month of September practically go hand in hand. If many crypto enthusiasts have their way, the fall month can be skipped as well. September is Bitcoin’s worst-performing month in history and it’s been quite a while since the month ended in the green. Does Bitcoin Have A Chance Of Hitting Its Third Green Month Of September This Year?
Bitcoin in September: what can we expect?
Coinglass brings full value for money lifespan clearly mapped by Bitcoin. When monthly returns are factored in, the month of September will immediately grab the attention of many.
Bitcoin has only closed the month of September in the green twice since 2013. September was only successful in 2015 and 2016. However, many investors of those years were not blown away after September month: in 2015 BTC rose by 2.35 percent and in 2016 by 6.04 percent. Of course, Bitcoin investors have experienced returns that are many times greater in the past.
On average, Bitcoin is down about 5.6 percent in September. Interestingly, the only two years that September has been a positive month for BTC have been years of low-volume price consolidation. Additionally, Bitcoin ended August in negative territory for both 2015 and 2016.
We are currently on track to end the month well in the red. Bitcoin started the month around $29,230 but is down more than 11 percent at the time of writing and is trading at $25,830.
Historical BTC data is not guaranteed
It goes without saying that results achieved in the past are no guarantee for the future. The different patterns that are recognized are therefore not always valid. 2014 was another year of low volatility, with Bitcoin ending August down 17.55 percent. According to historical data, this would mean a positive September month, but it turned out to be the worst September ever. BTC fell 19 percent overall.
There are many factors that influence the price of Bitcoin and of course it is very easy to simply tell a month the reason for the results achieved. However, it could partially serve as such self-fulfilling prophecy. It remains to be seen whether more blood will be put in the way of Bitcoin. In any case, the price is currently in dangerous territory: it is trading below its 200-day and 200-week levels for the first time since early January Moving averages.