Bitcoin has been on a roll lately, breaking through the $60,000 mark after weeks of struggling to get past it. It’s up almost 10% in the last week and has gained a whopping 20% since its low point this month.
Why September Matters
September is a crucial month for Bitcoin. Historically, if Bitcoin closes the month in the green (meaning it’s higher than it was at the beginning of the month), it tends to have a strong performance in the following months.
A Look Back at History
Out of the 12 years Bitcoin has existed, there have been only three green Septembers. But those three times, Bitcoin went on to have some serious gains in October, November, and December.
- 2015: Bitcoin closed September with a small gain of 2.35% and then exploded in the following months, gaining over 33% in October, 19% in November, and 13% in December.
- 2023:
The recent green September led to a huge bull run, with Bitcoin hitting a new all-time high in March 2024.
What’s Next for Bitcoin?
Bitcoin is currently trading around $63,640, and there’s a lot of optimism in the market. The recent interest rate cut by the Federal Reserve has boosted investor confidence in risky assets like Bitcoin.
Experts are predicting more rate cuts in the coming months, which could fuel further growth in the crypto market. With all this positive momentum, Bitcoin could be on track to break through $65,000, $67,000, and even $70,000 in the near future.
