Bitcoin had a rough August, losing over 8% of its value. This follows a similar trend from April, where the price dropped even more significantly. Now, some are worried that September will bring even more pain for Bitcoin investors.
The Curse of September 5th?
One analyst, known as @thedefivillian on X, believes a major Bitcoin price crash is coming. They point to the past two months, where the 5th of each month saw significant drops in price.
- July 5th: Bitcoin dropped below $55,000.
- August 5th: Bitcoin dropped below $50,000.
This analyst predicts a similar crash on September 5th
, potentially pushing Bitcoin below $40,000.
A Historically Bearish Month
Historically, September has been a bad month for Bitcoin. Out of the last 12 years, Bitcoin has seen negative returns in September for nine years. This makes September one of the worst months for Bitcoin, on average.
However, there’s a glimmer of hope. September has often been the last bearish month before a bull market begins. This means that investors might only have one more month of losses before Bitcoin starts to climb again.
So, while September might be a tough month for Bitcoin, it could also be the last hurdle before a potential bull run. Only time will tell if the “curse of September” will strike again.
