Bitcoin cycles follow each other, and its investors would like them to look the same. However, the rule is simple. Although they are an obvious source of inspiration, movements of the past do not predict the future for sure. However, some trends seem to be repeating themselves in the form of seasonal storms. And in the field, September never shone as a time for positive returns for BTC. But according to some analysts, the real tipping point of this end of the year is to be watched for mid-october.
A month of September which promises to be gloomy for Bitcoin?
Is the month of September the worst time possible of the year for Bitcoin? That’s what the crypto analyst seems to think Will Clementein a recent publication on the X network. And the chart he shares to accompany this claim is clearly not going to prove him wrong:
“Here are the Bitcoin returns broken down by month. September is the month with the least positive returns, with only two months. It has had six consecutive years of negative returns. »
Indeed, since real data is analyzed about Bitcoin, the month of september stands out as a seasonal fiasco.
This is a period in which BTC will have at best managed to post a timid +6.04% at most in 2016. an 8% collapse on averagewhose abyss still posted -19.01% in 2014.
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Towards a “full retracing” of Grayscale gains?
This situation therefore suggests a “full retracement” of the meager performances recorded following the Grayscale’s Historic Victory Against the SEC the United States. But this is no longer even a prediction, since the BTC has already returned to position itself on the level of $26,000 at the time of writing this review.
As saying that the betting seems to be done as of September 1. Even if it must be admitted that maintaining the BTC above the resistance of $25,000 still allows it to remain listed in a uptrend over the longer term. But let’s wait until mid-October to claim victory…
Bitcoin: next meeting in mid-October
This is a grim picture for the month of September which could clear up from mid-October. In any case, this is the hope carried by certain traders wishing to make Bloomberg’s forecasts a future market trend. Indeed, according to the revised calculations of its analysts Amy Seyffart and Eric Balchunas, there would be 75% chance that a spot Bitcoin ETF will be launched before the end of 2023.
This approval from the United States Securities and Exchange Commission (SEC) is definitely eagerly awaited. Finally, no one really considered that the first and next deadline at the beginning of September be the right one in this case. A trend confirmed following the official postponement of his decision, announced this very morning by the SEC. But this only postpones this deadline in mid-October.
And since 1 + 1 is usually 2, Bitcoin market analysts plan the end of the year using a calculator. Indeed, by adding the conclusions of Bloomberg with SEC’s now postponed timeline on ETF file spot Bitcoineverything points to a possible approval speaker in mid-october. And in this case, a more sustainable rise in BTC could well be in store.
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