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With each month, Bitcoin Performance Predictions can vary widely depending on how investors feel about the market. Years of monthly return data available for cryptocurrencies have left investors and analysts trying to pinpoint what’s next for the cryptocurrency based on historical performance. As August comes to a close, Bitcoin investors People are already looking forward to September hoping that the new month will bring better news.
Bitcoin Looks Like It Will End August in Negative
Despite a strong start, Bitcoin saw multiple crashes in August as the month went on. The first week of the month saw a 30% crash. Bitcoin pricewhich led to a collapse in the entire market, making altcoins particularly suffer.
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Since then, there has been a recovery in the price of Bitcoin, but it is far from where it started. This price decline means that August has followed the trend of the past two years, coming out in the red. So far, according to Data According to Coinglass, Bitcoin’s price fell by 6.03% in August, at the time of writing.
This month’s performance is not entirely out of the ordinary. Bitcoin price There have been more red months than green months since its inception. The data starts in 2013, and it provides 12 years of monthly returns since then. Out of those 12 years, BTC’s price has closed in the green in 8 different years, leaving only four green August closes for the cryptocurrency.
So far, it seems that the only times that digital assets have closed August in the green have been during bull markets. This was seen in 2017 with a 65.32% increase, as well as in 2020 and 2021 with positive returns of 2.83% and 13.8%, respectively.
Will September be better?
Historically, September has been the worst month for Bitcoin price Compared to August, over the 11-year period, there were 8 months of negative returns compared to 3 months of positive returns. This resulted in an average monthly return for September of -4.78%.
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With August’s weak performance, September is expected to go in the opposite direction. However, not everyone agrees with this view. Cryptocurrency analyst @btc_charlie wrote on X (formerly Twitter): to caution September may not go as planned.
He points out that the same people who say prices will rise are the same people who missed out. Bitcoin bottom and topInstead, it directs investors to look at the average monthly returns for September, which were negative, when making their decisions.
Featured image created using Dall.E, chart from Tradingview.com
