Historical Bitcoin Price Trends Traditionally Down In September, While BTC Market Revivals Follow In October – Market Updates Bitcoin News

Halfway through September, bitcoin traders are excited to see where the price will head next as September is traditionally a bearish month for crypto prices. Additionally, October is known to be a bullish month as Bitcoin has been profitable more than 77% of the time during October. Data shows that the price trend of the leading crypto asset may not break September’s historical trends but could very well see a rebound in the next month.

Bitcoin traders are patiently waiting for the end of September

This month’s bitcoin price data shows that bitcoin (BTC) is following the same trend it has been following for the past decade. Typically, BTC prices are terrible in September and this month was no different. 3,303 days ago, bitcoin prices fell from $240 per unit to $138 per bitcoin on September 1, 2013. Bitcoin prices were also in the red in September 2014 as the US dollar value of BTC closed the month at 482, $28 per unit started. The USD value of BTC fell 21.79% this month to $377.18 per coin by the end of September 2014.

Bitcoin/US Dollar 30 day chart on September 17, 2022.

Similarly, in September 2015, the value of BTC was higher on the first of the month and ended lower 30 days later. In September 2016, the value of BTC fell 1.41% in September and in September 2017, the price of BTC lost 19.64% during the 30-day range that month. From the beginning of September 2018 to the end of the month, Bitcoin’s US dollar value lost 8.89%. In September 2019, BTC lost around 16.94% over the month. September 2020 was a decent month for BTC as it remained bullish, gaining 4.81% against the US Dollar at the time.

Most people remember what happened in 2021 when the price of BTC was lower and bearish sentiment gripped the trading community last September. While BTC had an underperforming month in September 2021, the price rallied in October and hit a price lifetime high on November 10, 2021. The last decade of the bearish September months has left traders keen to be woken up when the month ends as bulls could revive the price in October. In contrast, patterns over the past decade show that September is typically bullish while September is typically bearish.

Bitcoin price moves sideways, crypto traders anticipate Fed rate hike, October price patterns offer hope

Furthermore, the price of BTC has already dropped over the past two weeks, following a brief spike that occurred prior to The Merge. Kitco.com market analyst Jim Wyckoff noted on Friday that BTC markets are calm and consolidating. “Price action is calmer, sideways and choppy, with bulls and bears at overall near-term technical levels,” Wyckoff stated Sept. 16. “A decline in prices below chart support at the September low would re-energize the bears to suggest a new price segment. A move in prices above chart resistance at this week’s high would recharge the bulls, suggesting further gains,” the analyst added.

However, the crypto economy has been correlated with US stocks for the past 12 months or more, and next week the US Federal Reserve is expected to hike interest rates by 75 basis points. It’s entirely possible that Bitcoin (BTC) prices could fall another notch after the Bundesbank rate hike. If the crypto economy tumbles lower, it’s also quite possible for an October rebound to materialize, as price patterns have shown in the past.

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What are your thoughts on September’s bitcoin price action? Do you think Bitcoin’s price could see a revival in October? Let us know what you think about this topic in the comment section below.

Jamie Redman

Jamie Redman is the news director at Bitcoin.com News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about today’s emerging disruptive protocols.

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