Subsequent month is a traditional underperformer for BTC/USD, and judging by the present worth motion, 2021 is not any exception.
Bitcoin (BTC) could rating a brand new all-time excessive in 2021, however the odds are that it received’t occur subsequent month.
Historic worth data confirms that September tends to see BTC worth losses — and its best-ever returns are nonetheless single figures.
September 2021 seems to be like a traditional for BTC
As Bitcoin matures, it turns into extra noticeable that BTC/USD behaves in related methods throughout the identical month annually.
This autumn is the clear standout for prime efficiency, particularly within the yr following a block subsidy halving. Against this, January tends to be bearish — though this yr was a conspicuous exception to the rule.
Turning to September, nevertheless, and the image is uninspiring for traders. Summer time could also be over, however traditionally, subsequent month has by no means seen Bitcoin enhance by greater than 6%.
“Bitcoin doesn’t like September in any respect,” Cointelegraph contributor Michaël van de Poppe commented this week.
“Are we going to repeat and have a corrective month throughout markets, earlier than the continuation of bull cycle?”
Higher luck in This autumn?
September is already tipped to ship a barely cheaper price zone than August, one thing that PlanB, creator of the stock-to-flow Bitcoin worth fashions, mentioned is merely a knowledge technicality.
Bitcoiners could not want to smile and bear it for lengthy, nevertheless, as October tends to ship way more convincing momentum.
But for the meantime, plainly a retest of all-time highs might want to wait. On the time of writing, BTC/USD traded at $47,600, having misplaced round 1.6% previously 24 hours.