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Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

Bitcoin Price To Witness Significant Gains In Last 3 Months Of 2024, Historical Data Shows

Opeyemi Sule
Opeyemi Sule
7 months ago
3 mins read
Bitcoin price

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Created by industry experts and meticulously reviewed
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Este artículo también está disponible en español.

The price of Bitcoin started the year on a bounce, securing a new all-time high before the end of the first quarter of 2024. However, the second and third quarters weren’t all that rosy for the crypto market, with the premier cryptocurrency largely moving within a consolidation range.

September, the last month of the third quarter, was predicted to dampen the bullish impetus of the Bitcoin price, but the contrary has been the case. According to data from CoinGecko, the Bitcoin price is up by more than 10% in September.

What Happens To Bitcoin Price After A Green September?

In a recent post on the X platform, popular crypto analyst Ali Martinez shared an insight into Bitcoin’s future trajectory based on its price action in the past few years. The crypto pundit explained that whenever the Bitcoin price closes with a green monthly candlestick in September, it sees even more significant gains in October, November, and December — the last three months of the year.

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Source: Ali_charts/X

As observed in the chart above, September is a historically bearish month for BTC, with the premier cryptocurrency ending the 30-day period with a loss eight times in the last 12 years. Most notably, the price of BTC declined by 19% and 13.4% in September 2014 and 2019, respectively. 

Meanwhile, the flagship cryptocurrency had a green September in 2015 (2.35%) and 2016 (6.04%). The Bitcoin price ended 2023’s third quarter on a high with a 3.91% gain in September, which in retrospect, seems to be the beginning of the current bull run. BTC followed this September performance with a trifecta of positive months.

In October 2023, the price of Bitcoin registered an outstanding 25% rally to commence the bull run. This was followed by a mild 9% rise in November before the premier cryptocurrency ended the year with a 12% price surge.

Interestingly, this red-hot streak was no coincidence, as historical data shows that the Bitcoin price tends to experience bigger price spurts in the months following a green September. For instance, BTC recorded significant double-digit gains in the last three months of 2015 and 2016 — the only other years with a positive September.

Going by this historical pattern, the Bitcoin price looks set for a significant rally over the next few months, especially having gathered some bullish momentum in the past 30 days. If this projection does hold true, the market leader would likely resume its bull run and potentially print a new all-time high price before year-end.

BTC Price At A Glance 

As of this writing, Bitcoin trades just beneath the $66,000 mark, reflecting a mere 0.2% dip in the last 24 hours.

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The price of Bitcoin on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image created by Dall.E, chart from TradingView
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Opeyemi Sule
Opeyemi Sule

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Read more

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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