With every month, the Bitcoin performance can vary widely depending on how investors are feeling toward the market. Years of monthly return data available for the cryptocurrency have led to investors and analysts attempting to pinpoint the cryptocurrency’s next move based on historical performance. Because the month of August draws to a detailed, Bitcoin investors are already looking toward September in hopes that the brand new month will include higher tidings.

Bitcoin Looks To End August On A Negative Note

Despite starting out on a high note, the Bitcoin price saw multiple crashes in August because the month drew out further. The primary week of the month got here with a 30% crash for the BTC price, which translated to a market-wide crash that saw altcoins suffer particularly.

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Since then, there was a recovery within the Bitcoin price nevertheless it is removed from its start line. This price decline signifies that the month of August has followed the trend of the last two years, coming out within the red. Thus far, in keeping with data from Coinglass, the Bitcoin price price is down 6.03% within the month of August, on the time of writing.

The performance this month just isn’t exactly out of the atypical because the Bitcoin price has had more red months than green months since its inception. The info begins in 2013, and it provides 12 years of monthly returns since then. Out of those 12 years, the BTC price has closed in green in 8 different years, leaving only 4 green August closes for the cryptocurrency.

Source: Coinglass

Thus far, the one times the digital asset has closed the month of August within the green looks to be during bull markets. That is seen in 2017 with a 65.32% increase, in addition to 2020 and 2021 with positive returns of two.83% and 13.8%, respectively.

Will September Be Higher?

Historically, the month of September has been even worse for the Bitcoin price in comparison with August. In 11 years, there have been 8 months of negative returns in comparison with 3 months of positive returns. This has brought the typical monthly return for September to -4.78%.

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With August performing so poorly, expectations are that the month of September could go in the wrong way. Nevertheless, not everyone agrees with this perspective. Crypto analyst @btc_charlie on X (formerly Twitter) has warned that September may not go as planned.

He points out that the identical people who find themselves saying that prices will go up are the identical individuals who missed the Bitcoin bottom and top. As an alternative, he directs investors to have a look at the typical monthly returns for September, that are negative, when making their decisions.

BTC gets rejected from $61,000 | Source: BTCUSD on Tradingview.com

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