Historical Bitcoin Price Trends Are Traditionally Bearish In September, While BTC Market Revival Follows In October – Market Updates Bitcoin News

Halfway through September, Bitcoin traders are curious about where the price will head next, as September is traditionally a bearish month for crypto prices. Additionally, October is known as a bullish month as Bitcoin was profitable in October more than 77% of the time. The data shows that the price trend of the leading crypto asset may not break the historical trends since September, but it is very likely that we will see a revival 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. Usually BTC prices in September are terrible and this month is no different. 3303 days ago, Bitcoin prices fell from $240 per unit to $138 per Bitcoin on September 1, 2013. Bitcoin prices were in the red in September 2014 as the USD value of BTC started the month at $482.28 per unit . The USD value of BTC fell this month by 21.79% to $377.18 per coin by the end of September 2014.

Historical Bitcoin price trends are traditionally bearish in September, while BTC market revival follows in October
Bitcoin/USD 30-Day Chart September 17, 2022

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

Most people remember what happened in 2021 as the price of BTC was lower and bearish sentiment gripped the trading community last September. While BTC had a down month in September 2021, the price recovered in October and hit a lifetime high on November 10, 2021. The last decade of bearish September months made it so that traders would like to be woken up when the end of the month as October bulls may revive the price. Patterns over the past decade show that while September is typically bearish, October is typically bullish in contrast.

Bitcoin Price Moves Sideways, Crypto Traders Expect Fed Rate Hike, October Price Patterns Give Hope

Additionally, the price of BTC in the past two weeks has already fallen lower after a brief spike that occurred prior to The Merge. Kitco.com market analyst Jim Wyckoff noted on Friday that BTC markets are quiet and consolidating. “Price action is quieter, sideways and choppy, with bulls and bears broadly level in the near term,” Wyckoff explained on September 16. “A drop in prices below the chart support at the September bottom would give the bears renewed strength to offer another leg down in prices.” A price move above the chart resistance at this week’s high would recharge the bulls to offer 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 raise the benchmark interest rate by 75 basis points. It is entirely possible that Bitcoin (BTC) prices will drop another foot down after the Fed rate hike. If the crypto economy goes lower, it is also entirely possible that an October recovery could take place, as price patterns have shown in the past.

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2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, bitcoin price, bitcoin prices, btc, historical btc prices, historical trends, market updates, markets, october, october btc prices, october prices, price rise, price spike, Prices, September, September 2021

What do you think of Bitcoin’s price action in September? Do you think the price of Bitcoin can revive in October? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is a Bitcoin.com News anchor and fintech journalist based in Florida. 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 the disruptive protocols emerging today.




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