The Curse Of September: Is Another Massive Bitcoin Sell-Off Coming?

Scott Matherson

10 months ago

2 mins read

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Bitcoin has suffered its second worst monthly close in the year 2024 after completing August with 8.6% losses. This falls short only to April losses when the price fell 14.76% in one month. As this red close has shaken investors, mixed feelings have followed the month of September. While some expect the Bitcoin price to recover during this time, others expect that the bearishness will continue, with one analyst expecting a significant drop in price.

September To Witness Another Bitcoin Price Drop?

A crypto analyst who goes username @thedefivillian on the X (formerly Twitter) platform outlined a possible price crash coming for Bitcoin. The crypto analyst points out that the last two months have seen massive drops in price for the pioneer cryptocurrency and September will not be any different.

More specifically, the crypto analyst points out that the 5th of each month has seen a price crash. The first was on July 5, when the Bitcoin price crashed below $55,000. Then again, on August 5, the Bitcoin price saw another major crash that pushed it below $50,000.

Now, with September expected to be bearish as well, the crypto analyst believes another crash could be coming. “September 5 is coming soon. Are you ready for another traumatizing event?” the X post read.

If this trend holds, then the Bitcoin price could see another major crash on September 5. Going by the last two months, when each crash has been worse than the last, a possible crash on September 5 could be worse from here, possibly pushing the BTC price below $40,000.

A Bearish Month To Reckon With

Historically, the month of September has been very bearish for the Bitcoin price. This fact is also made more prominent by the fact that the month has already started out in the red as the BTC price has failed to reclaim the $60,000 level again, according to data from Coinglass.

It is one of the most bearish months on average and one of only two months that maintains negative returns on both the average and median. Out of 12 years of historical price data, the month of September has come back negative for nine years for Bitcoin. If this trend continues, then September could be even worse than August.

Bitcoin monthly returns — Source: Coinglass

However, there is light at the end of the tunnel for the Bitcoin price given that the month of September has often been the last bearish month before each bull market began. This means that investors may only have one month more to suffer losses before the bull run begins.

Bitcoin price chart from Tradingview.com — BTC price fails to hold $58,000 | Source: BTCUSD on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

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In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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