Historical data shows Bitcoin’s 7% September drop often precedes significant October rallies, up to 47%.
Bitcoin is currently down 9% in September, with key support levels at $53,800 and $54,000.
Despite market uncertainty, Bitcoin holders show long-term confidence with 75% in profit and rising transaction activity.
Crypto analyst Rekt Capital highlights Bitcoin’s (BTC) past rebounds following September declines. In September 2017, Bitcoin dipped 7%, only to skyrocket 47% in October. Similarly, in September 2020, a 7% dip preceded a 27% October rally. Even in 2021, a 7% pullback paved the way for a 39% surge the following month. This September, Bitcoin is down 9%, raising questions about its potential path forward.
#BTC
When Bitcoin retraced -7% in September in 2017…
Bitcoin rallied +47% in the following October
When BTC retraced -7% in September in 2020…
BTC rallied +27% in the following October
When BTC retraced -7% in September in 2021…
BTC rallied +39% in the following… https://t.co/sBgeS2Lafi pic.twitter.com/5N3T9wwatG
— Rekt Capital (@rektcapital) September 6, 2024
Bitcoin is trading at $53,678.00, with a 24-hour trading volume of $48.79 billion. Over t…
The post Bitcoin’s September Slump: Can History Repeat with an October Surge? appeared first on Coin Edition.
