The September Curse: Preparing Bitcoin For Another Rally?
Thenext seven days will be telling, are we in for the big rally we’ve been expecting or a prolonged bear market?
September has always shown very similar, almost identical, movements in bitcoin price. A look at bitcoin charts shows that the month has usually started out with a crash in price. Thus leading to the “September curse.” The crashes have always led to at least a 17% loss in value. Marking the start of a low momentum month as the price struggles to regain its footing in the market.
There usually is a surge leading up to this crash. Ergo, the surge that happens in August. Then movement to exchanges shows a sell pressure, leading to a significant drop in price due to investors taking gains from the market.
A look through 2017, 2018, 2019, and 2020 shows the same trends that are happening now. The crashes happen in the same September time frame. The flash crashes drag the price of bitcoin into a stretch of struggling price movement. While also acting as a setup for the next rally.