Dreading September? Bitcoin price hopes to break the slump trend
Cointelegraph
Published Sep 04, 2021 07:14AM ET
Updated Sep 04, 2021 09:00AM ET
Bitcoin (BTC) has been struggling to break the $50,000 mark for over 10 days now. However, on Sept. 2, the premium cryptocurrency briefly surpassed the milestone, sending positive ripples across the market. Since then, the token has dropped below the mark to trade in the $49,000 range before rebounding to hit the $50,000 mark yet again on Sept. 3.
As Bitcoin often behaves in a cyclical pattern, a look at the monthly trends for September could reveal patterns in the price, which in turn could be helpful to gauge the outlook for the upcoming month. Historically, September has been one of the more lackluster months for BTC. A look at the monthly price data since 2013 reveals that the token has posted positive gains in September twice in eight years — in 2015 and 2016 — with a maximum of 6%, which could be considered to be almost flat.
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Written By: Cointelegraph
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