History of Red Bitcoin Every September, How is This Year? Here's the analysis

Bittime – As the king of crypto, Bitcoin still has high price fluctuations. However, what is interesting is that there is a historical record of Bitcoin always being in the red every September.

This article will discuss Bitcoin's historical performance in September, predictions for 2024, and an analysis of its validity.

Watch until the end to find out in detail whether the price of Bitcoin in September will plummet like in previous years.

September, a Gloomy Month for Bitcoin?

Source: rovercrc/X

Data from 2013 to 2023 shows a negative trend for Bitcoin in September. Of these 11 years, only 3 years showed an increase in prices, while the rest experienced a decrease.

On average, Bitcoin experienced a price decline of 5.58% in September.

2019 was the worst September for Bitcoin with a price decline of 13.38%. In contrast, the highest price increase occurred in 2015 with an increase of 2.35%.

In recent years (2020-2023), September has continued to be a challenging month for Bitcoin.

Price reductions were recorded at 7.51% (2020), 7.03% (2021), 3.12% (2022), and a slight increase in 2023 of 3.91%. This increase in 2023 breaks a negative trend for three consecutive years.

Read Also: Will Gleam Airdrop End and Listing September 02?

Bitcoin Price Prediction in September 2024

Although September is known as a gloomy month, CoinCodex, a crypto data and information platform, provided an interesting prediction.

CoinCodex predicts Bitcoin prices will jump 35% in September 2024, meaning the price will be above $86,000.

This prediction is considered bold, considering that Bitcoin's highest increase in September is historically only around 6%. CoinCodex uses technical indicators such as moving averages, RSI, and MACD to make price predictions.

Today, despite an increase of 1.26%, the price of BTC is still below $60,000 or around IDR920,586,187.

Read Also: Several Reasons Why Bitcoin Prices Dropped at the End of August

Will the Predicted BTC Rise in September 2024 Happen?

The validity of CoinCodex's predictions is still uncertain. The crypto market is known for its high volatility, and many external factors can influence the price of Bitcoin.

Several factors that could influence Bitcoin prices in September 2024 include:

- Global market developments: Global economic conditions, such as trade wars, recessions, or pandemics, can have a major impact on the crypto market.
- Government regulations: Changes in government policy regarding crypto, such as bans or taxes, can affect the price of Bitcoin.
- Market activity: Investor sentiment, altcoin price movements, and whale activity can influence Bitcoin prices.

Additionally, it is important to remember that predictions are just that, predictions. No one can say for sure how Bitcoin prices will move in the future.

Therefore, investment in crypto should be done wisely and after conducting in-depth research.

Conclusion

Although September has historically been a less profitable month for Bitcoin, the trend does not necessarily continue. The price increase in 2023 is proof that this negative trend may change. The prediction of price increases in 2024 is interesting to follow, but it is important to be careful and do your own research before making an investment decision.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.