Bitcoin breaks September curse, closing the month on a high note

exchange68September 12, 2024

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Quick Take

Bucking a precedent that dates back to 2016, Bitcoin ended September on a positive note, marking an approximately 4% increase. Historically, September has been a challenging month for Bitcoin, renowned for its adverse market conditions. However, this shift in trend rekindles interest and presents a fresh perspective on the cryptocurrency’s performance. This turnaround of fortunes also marks the first positive finish for Bitcoin since June.

Yet, while the September results are promising, Q3 as a whole paints a different picture, with an 11.5% decrease in Bitcoin’s performance. Moving into Q4, Bitcoin’s track record is typically upbeat, but a plethora of macroeconomic factors looming on the horizon injects a significant degree of uncertainty into the equation. As a result, investors and market analysts alike are set to face a period demanding heightened vigilance and strategic decision-making.

BTC monthly returns: (Source: Coinglass)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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