Bitcoin Up 7% in September, Poised to Break Decade-Long Pattern of August Gains Followed by September Losses

Forecast Trend Report by Period

Bitcoin (BTC) has risen about 7% in September, increasing the odds of breaking a seasonal weak spell that has persisted for more than a decade.

CoinDesk reported on September 29 that Bitcoin has added about 7% this month after climbing 25% in August.

Since 2013, every year in which Bitcoin posted gains in August has been followed by a decline in September, according to CoinDesk. With two days left in the month, that streak would be broken for the first time if the current rally holds.

Bitcoin is also on course for three consecutive monthly gains from July through September. Its third-quarter advance is set to top 40%, which would mark its first positive quarterly return since the third quarter of last year.