Bitcoin (BTC) could hit a new all-time high in 2021, but there’s a good chance that won’t happen next month.
Historical price data confirms that September tends to see BTC price losses – and its best ever returns are still single numbers.
September 2021 looks like a classic for BTC
As Bitcoin matures, it becomes more and more visible that BTC / USD behaves similarly in the same month every year.
The fourth quarter clearly stood out from the best performances, especially the year following a halving of block grants. In contrast, January tends to be bearish, although this year has been a notable exception to the rule.
As for September, however, the picture is of no interest to investors. Summer may be over, but historically the next month has never seen Bitcoin rise more than 6%.
“Bitcoin doesn’t like September at all”, UKTN contributor Michaël van de Poppe commented this week.
“Are we going to repeat and have a corrective month in all markets, before the bull cycle continues? “
More luck in Q4?
September is already expected to offer a slightly lower price zone than August, which PlanB, creator of the stock-to-flow Bitcoin price models, said was just a data-techie.
Related: Is Now The Time For $ 50,000 BTC? 5 things to watch in Bitcoin this week
Bitcoiners may not need to smile and put up with it for long, as October tends to give a much more convincing momentum.
Still, for now, it looks like a new test of all-time highs will have to wait. At the time of writing this article, BTC / USD is trading at $ 47,600, having lost around 1.6% in the past 24 hours.