Bitcoin (BTC) has been unable to escape the downtrend it has been in since reaching its new ATH level in March.
While BTC fell below $50,000 in the early August decline, we are about to enter September, when the FED is expected to make its first interest rate cut.
At this point, while investors are pinning their hopes for an increase on the coming months, let's look at the answers to the questions: Does Bitcoin like September? How did it perform in previous Septembers?
How Did Bitcoin Perform in Previous September Months?
When we look at Bitcoin's performance over years and months, we notice that declines are concentrated in certain months and increases are concentrated in certain months.
When we look at the Bitcoin monthly return table above, we see that March, August and September are generally the months of decline, while February, July, October and November are the months of rise.
At this point, when historical data is examined, Bitcoin closed September with an increase in only 3 of the last 11 years, while it closed September with a decrease in the remaining 8 years.
According to the data, in September, when BTC closed in the green, the increase rates were as small as 3.9%, 2.3% and 6%.
In the face of these historical data, analysts and investors describe September as the worst performing month of the year, and this year's September is also expected to be a bearish month.
Although the expectation is bearish, it is difficult to predict in which direction the Bitcoin price will move. Because there is a possibility that the FED will reduce interest rates in September, which have been kept constant for more than a year, and there is an expectation that the first interest rate cut will see an uptrend in the BTC and crypto markets.
*This is not investment advice.