September is often seen as a tough month for Bitcoin, and this time, information from Blockstream CEO Adam Back about 'SENDtember' sparks discussions within the crypto community.
Historical Declines in September
Historically, September is regarded as a challenging month for Bitcoin, with an average return of -7.87%. During this time, holders of the cryptocurrency typically experience apprehensions, as even in 2021's furious rise, Bitcoin closed the month down more than 7%.
'SENDtember' Promotion
Adam Back, at the start of September, introduced the term 'SENDtember', presumably to shift the negative course of the month. This hashtag contrasts with the meme 'SOLtember', which was related to rising markets of Solana in the past. Back is known for his provocative statements, asserting that all altcoins ultimately fall to zero against BTC.
Q4 Prospects
There is a belief that a positive September could signal a roaring end to the year. Based on historical data, October often provides over 15% returns, and November frequently shows growth exceeding 40%. Back's position is intriguing as he encourages looking past expected declines and considering growth potential.
September has always invoked apprehension among Bitcoin holders; however, the optimism introduced by Adam Back with the term 'SENDtember' could mark the beginning of change. This approach raises questions about potential growth in the upcoming quarter.
