Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Bitcoin is set to record a gain of at least 9% this September, defying its historical trend of negative returns for the month, with only two prior instances of positive growth since 2013.
October traditionally favors bitcoin with only two negative months since 2013, and current market conditions, including global monetary policies and U.S. political support, suggest a continued bullish trend potentially pushing Bitcoin toward $70,000 from around $64,000.historically worst month may have be its best one yet, with the asset on track to gain at least 9% this September, beating a trend that’s seen it end in the red eight times since 2013.
And that’s putting the asset on a stronger footing going into October, the start of a generally bullish period with some traders targeting a run to as much as $70,000 in the coming weeks from the current $64,000 levels. A green September has always resulted in bitcoin closing higher in October, November and December.
In contrast to September, there have just been two October months where bitcoin has ended in the red since 2013 - chalking gains of as high as 60% and an average of 22%.Seasonality is the tendency of assets to experience regular and predictable changes that recur during the calendar year.
“Furthermore, with the Kamala camp playing lip service to crypto 'support' as part of her campaign rhetoric, we remain bullish on price action in the near term, with targeted put-selling strategies likely to be popular as investors switch into a 'buy-the-dip' mode,” he added.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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