Data says don’t bet on Bitcoin bull run
Historical data on Bitcoin pricing predicts that although BTC might score its all time high in 2021, it is unlikely this would happen in September.
September is a month for BTC price losses while its best ever returns would maintain single figures still, according to past figures. As the digital currency matures, it has become more noticeable than ever that BTC/USD’s behaviour remains similar to the same months in every year.
For investors, September paints a dull picture. Still, the next month when seen in history, has never recorded more than a 6 per cent increase in BTC, in Cointelegraph contributing writer Michaël van de Poppe’s words that BTC “doesn’t like September at all.”
For Bitcoins, Q4 is a standout in its top performance, especially when the following year is a block subsidy halving. January is more bearish, even though this year became an exception to the set standards.
September 2021 is slated to deliver lower pricing than the month of August, but this is merely a technical piece of information, as stock-to-flow creator PlanB states.
However, Bitcoin enthusiasts and supporters do not have to witness the dark season for long because October is a month of possibilities in BTC’s book of records. The exact prediction running for this year’s month of October says that BTC could possibly deliver much more convincing momentum than before.
While writing this, BTC/USD was trading at $47,600, losing around 1.6 per cent in the past 24 hours.