Research: September is historically the worst month for BTC since 2013

If humanities information is thing to go, Bitcoin’s (BTC) terms mightiness dip further this September, which has been the worst-performing period connected grounds for the crypto plus since 2013.

Available information shows that the flagship integer plus has lone seen its worth emergence successful 2 September betwixt 2013 and 2021, which were successful 2015 and 2016. Outside of those two, BTC has recorded an mean 6% diminution successful the month.

Bitcoin Monthly Returns

Meanwhile, the September effect is not peculiar to BTC alone. The S&P 500 has besides had downturns successful astir of September since 1928.

Between 1928 and now, the S&P 500 averaged a 1.1% diminution successful September. Experts argue that the wide marketplace diminution successful September is owed to investors’ behavior.

Source: Jeroen Blokland Blog

According to Elena Dure, astir investors usually exit their marketplace positions successful September to fastener successful their gains oregon adjacent taxation losses arsenic the twelvemonth draws to a close.

There is besides a higher complaint of plus liquidation arsenic schools resume successful September and the request for currency to wage schoolhouse costs arises.

Given however BTC terms has mostly mirrored that of S&P show since the pandemic, it volition not beryllium wholly astonishing if determination is simply a further diminution successful BTC terms this month.

Will this September subordinate the trend?

While galore investors volition privation Bitcoin’s terms to instrumentality to erstwhile highs, the anticipation of a reddish September is already manifesting aft the plus mislaid each its gains implicit the past fewer months successful the last days of August.

After weeks of trading astir the $20,000 scope and galore analysts suggesting that the terms mightiness person bottomed, BTC’s worth has dropped beneath $20,000. In the past 24 hours, the cryptocurrency’s worth declined 1.4% and by 2.2% connected the 7 days metrics.

In this twelvemonth alone, Bitcoin’s terms has been down by astir 59%.

Source: Glassnode

The chances of September 2022 being an outlier period similar 2015 and 2016 is besides minimal, fixed that the conditions liable for declining plus worth persist.

Federal Reserve Chairman Jerome Powell warned that the United States system would look much “pain” arsenic the authorities conflict to power the rising inflation.

The connection has led to respective experts predicting that the FOMC could further hike the involvement complaint successful September.

Apart from that, the US Labor Department revealed that unemployment roseate to 3.7% – the highest since February –another denotation of the struggles of the US economy.

The station Research: September is historically the worst period for BTC since 2013 appeared archetypal connected CryptoSlate.