Bitcoin profit in September historically means a very bullish last quarter
Last Updated on 26 September 2024 by CryptoTips.eu
Although the largest digital currency is still relatively young (Satoshi Nakamoto wrote the Bitcoin Whitepaper less than two decades ago), investors are already studying historical recurring trends for Bitcoin. Normally a good month of September is followed by a very good year end.
Since September 1st of 2024, Bitcoin has already gone up by about 8% (at the time of writing) and there is still about a week to go. Unless the market crashes (which seems unlikely given the Federal Reserve’s rate cut and the Bank of Japan’s refusal to raise rates), this normally means we have a good end to the year ahead. At least if Bitcoin’s historical patterns are anything to go by.
History
Both in 2015 and 2016, the year before the first major bull run (the one in the last quarter of 2017, when Japan and South Korea went batshit crazy for Bitcoin after it broke the $20,000 mark for the first time), Bitcoin also had a great month of September (normally September is quite bearish), and that was always followed by a spectacular fourth quarter, with gains of more than 50%.
Bitcoin also had a positive month of September last year, in 2023 (with a gain of about 4%). This was followed by another 50% increase in the fourth quarter (mainly due to BlackRock’s announcement that it wanted to start a Bitcoin ETF and the conviction of Sam Bankman-Fried).
Do note that history is not a guarantee, but rather an indication of what may yet come.
And as always, pay attention to geopolitical events.
In any case, this setup looks very bullish for Bitcoin. We are curious to see what comes next.
