“Remember, Remember Bitcoin Tanks in September” – Then “Aggressive Volatility”
Kraken says Bitcoin is going to perform negatively in September, only to rally”aggressively” afterwards. Well, I’m not so sure but only time – and Bitcoin – will tell
Remember, remember Bitcoin tanks in September: Kraken report
“In its August 2020 volatility report, U.S.-based cryptocurrency exchange Kraken has predicted that September will bring excessively negative returns for Bitcoin (BTC).
The report notes that historically, September is Bitcoin’s worst-performing month, with an average return of -7%. It points out that as Bitcoin has underperformed its average returns for most months of 2020, this month’s performance was likely to be even worse than usual.
Despite the bearish outlook for the short-term, the report identifies some glimmers of hope, including that a record share of Bitcoin’s supply has not moved in more than 12 months — with Kraken noting that ‘historically, this dynamic has foreshadowed a new bull market.’”