Bitcoin (BTC) may score a new all-time high in 2021, but the odds are that it 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 figures.
September 2021 seems like a classic month for Bitcoin
As Bitcoin matures, it is more obvious that BTC/USD behaves similarly in the same month every year.
The clear standout in terms of top performance is Q4, especially after a block subsidy reduction. However, January tends towards bearishness — though this year was an exception to the rule.
Investors are not encouraged by the September picture. Although summer may be over, historically, Bitcoin has not increased by more than 6 percent in September.
“Bitcoin doesn’t like September at all,” Cointelegraph contributor Michael van de Poppe commented this week.
“Are we going repeat and have a correction month across the markets, before continuing with bull cycle?”
Better luck in Q4?
Already, September is expected to have a slightly lower price range than August. PlanB, the creator of the stock/to-flow Bitcoin price models said that this was a technicality.
However, Bitcoiners don’t have to smile and bear it long as October tends not to provide much convincing momentum.
However, for now, it appears that a retest at all-time highs is unlikely. BTC/USD was trading at $47,600 at the time of writing. It had lost approximately 1.6% over the last 24 hours.
