Is September Bitcoin’s (BTC) Worst Month of the Year?
- Bitcoin’s worst month of the year is September which has an average -7% returns.
- Volatility of Bitcoin was also low in September.
Historically, Bitcoin’s worst month of the year is September which has an average -7% returns, as per Kraken report. Crypto investors need to be prepared for BTC’s performance this month. The price of BTC could move lower during the month than expected.
Despite the lower price movement of BTC this month, volatility of Bitcoin was also low in September. Moreover, September’s nine-year average and median volatility of 61% and 45% respectively, is the lowest of all other months.
Kraken Report adds,
“Considering that bitcoin has only returned +25%, has yet to approach its 315-day moving average of 78%, and only 38 days have passed since volatility troughed at 23%, history indicates that incremental market volatility should be expected.”
Bitcoin Archive mentioned in a tweet describing that ‘Volatility is part of the game’.
In 2013 #Bitcoin had a brief 33% correction just before it went up +1200%
Volatility is part of the game pic.twitter.com/RRysbhdSXl
— Bitcoin Archive (@BTC_Archive) September 8, 2021
In addition, crypto enthusiasts Tegar’s portfolio mentioned in a tweet that ‘August was, on average, also the worst-performing month for #Bitcoin. But August this year, #BTC was in green.’
According to CoinMarketCap, the BTC price is trading at $46,847.16 with a 24-hour trading volume of $43,650,801,226, at the press time.
The above chart shows the 50-Day Moving Average of BTC. From the chart it is clear that BTC shows a bullish trend. As the BTC price touched the 50-MA two days back, since July end.
The post has appeared first on thenewscrypto.com
Read more: https://thenewscrypto.com/is-september-bitcoins-btc-worst-month-of-the-year/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
