Bitcoin’s red month; why September still shapes the crypto cycle
Bitcoin’s red month is almost here, and as we approach yet another September, is it inevitable that prices will dwindle? Let’s take a look at some of the reasons the ninth month of the year is historically bad for Bitcoin.
Why September is historically Bitcoin’s red month
Since 2013, September has proven to be a challenging month for Bitcoin, with losses in eight of the last 11 years. That could be because retail investors typically take profits after summer rallies or even crypto to cover their fall expenses, like tuition fees and tax planning.
Bitcoin’s red month may also be something of a self-fulfilling prophecy as traders expect red candles and act more defensively, pulling the market down further. Perspective here is…
