Here’s What Tends To Happen to Crypto Markets in the Month of September, According to Top Analyst
As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.
Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase
The widely followed crypto analyst looks at 12 years of crypto market performance to determine how digital assets are likely to fare this month.
In a new video update, popular crypto trader Benjamin Cowen tells his 766,000 YouTube subscribers that nine of the last dozen Septembers have seen Bitcoin (BTC) in the red.
“If we go back and look at all the previous Septembers, just going back to 2010, you can actually see that all but three have been in the red and the only ones that were in the green were up about 2.5%. 6% and 15% rise up.”
As for Ethereum (ETH), Cowen says historical data also reveals a similar pattern for leading smart contract platforms.
“We can also look at other things like Ethereum and wonder if it gives similar results, and on average it is correct.
You can see the -12% movement of ETH in September. [It] does not mean that all Septembers are red. There are a couple that are green, but historically on average you’d expect it to be red.
For example, this September is green, it doesn’t necessarily disprove the idea that September is usually a bloody month for crypto activity, it may just be that sometimes you see deviations outside of the norm.
Looking at crypto’s total market cap (TMC) performance, Cowen continues to demonstrate the asset class’ historic September woes using data from previous years.
“Since 2010, on average, the only month that has been in the red is September. The last time September was green in the overall asset class was in 2016 and 2015, but we’ve had five years in a row where September wasn’t such a great month, and if you take that back to 2017 , the average return in September is down about 7.5%.”
While crypto has generally been down during September, Cowen points out that there is still potential for the digital asset market to turn green this month.
“September is historically not a good month for crypto activity. Now does that mean we have to have a red moon? No, no, and just because something works doesn’t usually mean it should play every time.”
Don’t Miss a Beat – Subscribe to receive encryption email alerts straight to your inbox
Check price Take action
Follow us TwitterFacebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that transfers and trades are at your own risk, and any losses are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Ziema/Pooh Yuphayao