September is considered an unlucky month for Bitcoin, and historical data confirms this. An analysis of the cryptocurrency's performance during this month will be presented next.
Historical Trends of Bitcoin in September
According to CoinGlass data, Bitcoin has declined in 8 out of the last 12 Septembers. Given the bull market, the likelihood of repeating this scenario is high. 'Historically, September has been the worst month for Bitcoin with an average return of -3.47% over the past 13 years,' notes analyst 'Mags.'
Current Situation Forecast
Trader Daan Crypto Trades suggests waiting out the first days of the month, as this time often sees volatility and many price fluctuations. Although September's seasonality isn't the best, October and November generally show more positive results. Current analysis suggests a potential bounce, but a continued downward trend could see prices drop to support levels around $100,000.
Current Bitcoin Price and Movement
Currently, Bitcoin is trading up around 2.5%, allowing it to reclaim the $110,000 mark. However, it remains 11% below its all-time high. The overall movement in the market indicates that there is still much at stake for Bitcoin this month.
September continues to be a challenging month for Bitcoin, but considering historical trends and current indicators, traders should closely monitor price movements.
