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Next month is a traditional underperformer for BTC/USD, and 2021 is no exception, based on current market movement.
Bitcoin (BTC) may set a new all-time high in 2021, but it is unlikely to happen this month.
Historical price data reveals that BTC prices tend to fall in September — and its best-ever gains are still in the single digits.
September 2021 looks like a classic for BTC
As Bitcoin matures, it becomes clear that BTC/USD performs in similar ways each year during the same month.
Q4 is the clear standout for excellent performance, particularly in the year after a decrease of block subsidies. January, on the other hand, tends to be bearish – albeit this year was an outlier.
However, the picture for investors in September is uninspiring. Summer may be ended, but historically, Bitcoin has never increased by more than 6% the following month.
“Bitcoin doesn’t like September at all,” Cointelegraph contributor Michaël van de Poppe commented this week.
“Are we going to repeat and have a corrective month across markets, before the continuation of bull cycle?”
Better luck in Q4?
September is already expected to yield a little lower price zone than August, which PlanB, the author of the stock-to-flow Bitcoin pricing models, claims is just a data technicality.
Bitcoiners may not have to grin and bear it for long, as October usually brings much more convincing momentum.
However, it appears like a retest of all-time highs will have to wait for the time being. BTC/USD was trading at $47,600 at the time of writing, down about 1.6 percent in the previous 24 hours.