There’s hardly anyone even remotely involved in crypto who’s not aware that September is historically not a good month for Bitcoin.
However, this September is quite the opposite, at least so far. Federal rate cuts fueled the market recovery as the BTC price is now well above $63K despite a slight correction today.
What you'll learn 👉
Historical September-October Performance
OverDose, a popular crypto analyst, especially regarding calls on lower-cap coins, posted a viral tweet today answering an interesting question – if September is “green,” then what happens in October historically?
Here’s a summary:
- 2015: +2.35% (September) → +33.49% (October)
- 2016: +6.04% (September) → +14.71% (October)
- 2023: +3.91% (September) → +28.52% (October)
These numbers reveal a fascinating trend: whenever September showed positive gains, October amplified those gains significantly. In 2015, we saw a staggering 14x increase from September to October.
The 2016 jump was more modest but still impressive, with October gains more than doubling those of September. Last year’s performance was particularly notable, with October gains surpassing September’s by over 7 times.
What Could This Mean for 2024? BTC Price Forecast Based on Historical Data
While history didn’t hold true for September this year, it’s natural to wonder if October will follow the historical pattern. If it does, we could be in for quite a ride. Let’s consider the potential Bitcoin price predictions based on previous years’ performances:
- If Bitcoin were to replicate 2015’s 33.49% gain, we could see prices reach approximately $84,365.
- A more conservative 2016-like increase of 14.71% would push Bitcoin to around $72,495.
- Should we experience gains similar to 2023’s 28.52%, Bitcoin could climb to about $81,226.
Best Crypto to Buy Now As Bitcoin Price Eyes Bullish October?
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Read also: Here’s How Bitcoin Price Performed in Q4 – Will BTC Smash 100K Soon?
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