Bitcoin has historically struggled in September, but recent developments indicate a change in this pattern.
According to CoinGlass, Bitcoin has closed with a positive return in September only four times in 12 years. Despite this negative history, Bitcoin has experienced notable changes over the past two years, ending September on a positive note in both cases.
Specifically, in September 2023 and 2024, Bitcoin recorded gains of 3.91% and 7.29%, respectively. This recent strength has led analysts and experts to be optimistic about Bitcoin's future price trend.
Predictions after Green September
Following Bitcoin's strong September close, Bitcoin insight and commentary providers have shared price predictions based on historical patterns. It showed that Bitcoin could reach over $100,000 by the end of the year if it follows the average rate of increase since September.
This forecast suggests that the price in October will be $80,518.40, rising to $89,727.02 in November and reaching $106,718.33 by December.
Historically, October has been one of the most profitable months for Bitcoin, with an average return of a massive 20.66% over the past 10 years. November boasts the highest average of 46.81%, followed by December with a modest increase of 5.45%.
Bitcoin has traditionally performed well in the last quarter of the year, so these numbers highlight the potential for the uptrend to continue.
Market experts give their opinions
In addition to these predictions, market analyst Ali Martinez recently said: emphasized Significance of Bitcoin's green September closing price. Martinez noted that previous strong Septembers have led to even stronger gains in October, such as in 2015 and 2016, when Bitcoin increased by 33.49% and 14.71%, respectively.
martinez noticed Bitcoin’s recent 3.91% rally in September 2023 could precede a similarly significant rally, as evidenced by past performance. This pattern suggests that Bitcoin could continue to perform well in October, potentially setting the stage for further gains throughout the rest of the year.
Veteran analyst doubts Bitcoin's upward trend
However, not all experts share the same optimism. Veteran trader Peter Brandt highlighted He expressed concern about Bitcoin's long-term trend and said the recent rally does not break the established bearish structure.
Brandt said Bitcoin has shown a pattern of lower highs and lower lows for more than seven months. Brandt emphasized that for Bitcoin to confirm a significant bullish reversal, the asset would need to close above $71,000 and set a new all-time high.
Brandt also identified two key resistance levels at $70,602 and $73,808 that have repeatedly blocked Bitcoin’s upward momentum. Unless these levels are exceeded, Bitcoin is expected to remain in a correction phase with periodic significant declines.
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