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- Bitcoin enters 'Red September' đź”´
Bitcoin enters 'Red September' đź”´
Since 2013, Bitcoin has closed out September down eight out of 13 completed years—and it's already off to a rocky start.
📝 What you need to know
Bitcoin just posted its best August since 2021, up by almost 25%. But what goes up must come down—at least in the eyes of traders who’ve been left jaded by a brutal bear market, and the latest buzz phrase on everyone’s lips is “Red September.”
That points to the fact that since 2013, Bitcoin has closed out September lower eight times out of 13 completed years—mirroring a pattern seen in the S&P 500 since 1945. Theories abound as to why, but they shouldn’t impact on Bitcoin, which doesn’t have a fiscal year or summer vacation to shake things up.
This year, Bitcoin has started the month down, trading at around $77,000 after dipping from an intraweek high of over $80,000. A sign of things to come?
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