With two days remaining in September, bitcoin’s monthly gain stands at 11.11%, setting the stage for the widely anticipated ‘Uptober.’ Historically, October has been a strong month for bitcoin, delivering positive returns 81.82% of the time since 2013.
‘Uptober’ on the Horizon: $BTC Looks to Buck September’s Bearish History
As of Saturday, Sept. 28, 2024, bitcoin is hovering just under the $66,000 mark. Despite September’s history of unfavorable returns, it looks like the top cryptocurrency could end the month on a high note. Data from coinglass.com reveals that before this year, BTC was down 72.73% of the time in September since 2013. If bitcoin closes the month in positive territory, that figure will improve to a more favorable 66.67%.
Last year, 2023, proved to be another solid ‘Uptober’ as bitcoin rose by 28.52%. Historically, BTC tends to shine in Q4, with positive results 63.64% of the time since 2013. If bitcoin stumbles in the final quarter of 2024, that number will drop to 58.33%. However, if BTC wraps up Q4 in the green, the figure will rise to 66.67%.