Throughout the years, various trends have surfaced regarding Bitcoin’s price based on whether the month closes positively or negatively. Traditionally, September has been seen as bearish; however, in the rare instances when it ends positively, it has often led to bullish outcomes for the cryptocurrency. With September 2023 appearing to conclude on a positive note, this report examines the historical implications of such occurrences in previous years.
Expect Bullish Trends for Bitcoin If September Ends Positively
In a post on X, cryptocurrency analyst Rekt Fencer pointed out a noteworthy trend concerning Bitcoin’s pricing during favorable Septembers. This trend relates to previous years when the month closed positively, subsequently leading into an even more bullish October.
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Based on CryptoRank data, over the past 14 years, only five Septembers ended positively. In four of these instances, this bullish close preceded a bullish October. Recent examples include 2023 and 2024, where both years saw September closing positively.
In September 2023, Bitcoin ended with a 3.99% increase, followed by a 28.5% rally the subsequent month. A similar scenario played out in September 2024, where a 7.11% gain was followed by an 11.2% increase in October.
Looking further back, September 2015 closed with a 2.52% gain for Bitcoin, while October 2015 experienced a 33.1% increase. Similarly, September 2016 ended with a 5.94% gain, and October 2016 saw a 14.9% rise. The only deviation from this trend occurred in 2012 when a 13.1% close in September resulted in a 9.96% loss in October.
What If This Trend Continues?
If this trend recurs, Bitcoin’s price might be on track for substantial double-digit gains in October. Currently, the cryptocurrency is already experiencing gains of 6.24%, and maintaining this momentum could solidify a bullish trend moving forward.
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Additionally, October is historically one of the most bullish months for Bitcoin, suggesting a promising outlook for the month ahead. While there is a risk of price declines due to profit-taking at these elevated levels, increasing institutional inflows may lead to a strong finish to the year for Bitcoin.
Featured image from Dall.E, chart from TradingView.com
