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Bitcoin tops $80,000: ‘Crypto winter is close to being over’

Bitcoin tops $80,000: ‘Crypto winter is close to being over’

Investors got a hopeful signal on Thursday that bitcoin (BTC-USD) may defy its historically weak September trend.

The world’s largest cryptocurrency jumped 4% on Thursday to rise above $80,000 as worries about a Federal Reserve rate hike eased and Treasury yields dropped.

The question is whether the token can remain above these levels, given that bitcoin has historically posted negative returns in September in nine of the past 15 years.

“It’s important data, and we should respect it,” Fundstrat head of digital assets Sean Farrell said. However, the strategist noted that the token has “bucked” this historical monthly trend over the past few years.

“We haven’t seen a negative September in four years, and seasonality — it’s a helpful data…

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