Will 2023 be the third ‘green’ year for September in Bitcoin’s history?
September has historically been a negative month for Bitcoin’s price performance, with only two years, 2015 and 2016, showing gains. However, the market is now speculating what to expect for September 2023, considering the upcoming Bitcoin halving in 2024 and the possibility of a ‘bull market’.
Key Points:
– Bitcoin’s price performance in September since 2013 has mostly been negative, with losses ranging from -1.76% to -19.01%.
– The only two positive September months for Bitcoin were in low-volume years of price consolidation, following negative months in August.
– There are no clear patterns indicating that price consolidation years with losing Augusts result in September gains.
– Speculative price predictions based on this inconclusive data pose a high risk for decision-making.
– Bitcoin is currently consolidating at $26,045, with low liquidity in the market.
Hot Take
Based on historical data, it is unclear whether September 2023 will be a positive or negative month for Bitcoin. The lack of patterns and the speculative nature of predictions make it difficult to determine the outcome. Investors should consider other factors and understand the risks before making any decisions.
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