September traditionally brings losses to markets, including cryptocurrencies and US stock markets. However, investors are hopeful for growth in October.
Uptober and Cryptocurrencies
September is known as a period of losses, while October and the following months are associated with growth. Historical data confirms this, showing that for 100 years, September has brought declines for the S&P 500. Continuous declines have been observed for the last 94 years. The same situation is noted with Bitcoin: since 2013, Bitcoin has fallen in 8 out of 10 Septembers. Leading cryptocurrency analyst, known as Ali_charts, asserts: 'While September has historically been a tough month for Bitcoin, remember that October is just around the corner. This month, often referred to as Uptober, is known as one of the best months for Bitcoin.'
Can Bitcoin Drop by 50%
Analyst Altcoin Sherpa shared an assessment of the possibilities of Bitcoin dropping by more than 50%. Such instances were observed in 2019 and 2021. Sherpa notes: 'There have been a few instances where we experienced a 50% drop for BTC without a full bear market. Such cases occurred in 2019 and 2021. In fact, 2019 was almost like a cycle: a move from 3k to 14k, then a drop to 6k, and then a rise again. I need to examine this further.'
Investors’ Expectations
If Bitcoin fails to initiate the expected turnaround in October and does not set a new peak far from the ATH, this may be a topic for discussion. Nonetheless, the historical success of October gives investors hope for positive market movement.
September traditionally brings losses, but the historical success of October gives investors hope for Bitcoin and other risk assets to rise.
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