Can Bitcoin Break Historical September Price Trends? Spike Above $51K Suggests 2021’s 9th Month Is Different
The price of bitcoin has risen above the $51K zone on Sunday and traders and speculators are curious as to where the price is headed next. Historically, in September, bitcoin prices don’t fare so well and usually get better in October. For this reason, skeptics are not sure if bitcoin’s price will continue to be bullish during the ninth month of the year. So far, however, the end of the first week of September 2021 has been much better in terms of gains.
Historical Bitcoin Prices in September Are Often Low and Lackluster, 2021 Has Been Different
Bitcoin is doing well on Sunday, up 5.4% during the last seven days and 26.3% during the last month. So far it has jumped above the $51K region on Sunday evening (EST), hitting a high of $51,863 per unit.
The first week of September is almost over, and so far, BTC is looking real good price-wise but traditionally, the leading crypto asset doesn’t do so well this month. In 2013, BTC was in the red that September after reaching a $240 all-time-high (ATH). It dipped after the previous ATH and was trading for $138 per bitcoin on September 1, 2013.
At the end of the month in September 2013, BTC was exchanging hands for $137. But after September, the following months leading up to the end of 2013, BTC’s price skyrocketed to $1,240 per BTC in December. Again in September 2014, BTC was down and during the first week of the month, it was trading for $482.28 per unit.
Bitcoin (BTC) price on Bitstamp on September 5, 2021 – one-month chart via Tradingview.
At the end of September 2014, BTC’s price dropped even lower at $377.18 per coin. In September 2015, BTC’s price was much lower than previous months, and swapping for $239 per unit during the first week of the month. The end of September 2015 saw prices even lower at $232 per bitcoin.
September 2016 was a decent month for BTC, as the price started making headway toward the bull run of 2017. On September 4, 2016, bitcoin was exchanging hands for $608.63 per coin and it ended the month at $600. From the $600 range to to September 3, 2017, BTC’s price increased a whopping 663.66% to $4,582.96 per unit.
The price was lower on September 24, 2017, at the end of the month exchanging hands for $3,682.84 per BTC that day. However, most people know what happened at the end of the year in 2017, as BTC came awfully close to rising above the $20K region.
2018 Bear Market Memories, Lackluster 2020 Bitcoin Prices Led to New All-Time Highs by the Year’s End
By September 2018, BTC was down again trading for $7,272 per unit during the bear market. BTC’s price was even lower at the end of the month on September 30, 2018, and was trading for $6,625 per unit. BTC managed to gather some steam by the first week of September 2019 and was trading for $9,757 per bitcoin.
Bitcoin (BTC) price on Bitstamp on September 5, 2021 – 15 minute chart via Bitcoinwisdom.io.
BTC dipped down lower to $8,104 by the 29th of September 2019. The following year, BTC was trading for $10,280 per coin and by the end of that month in 2020, BTC was $10,775 per unit. Again from here, BTC managed to break the $20K per unit ATH by the year’s end and was over that price in December 2020.
Historically, September is not the best month for BTC and once in a while, it does shine in September on rare occasions. Bitcoin is still down 29% from the last ATH five months ago when it hit $64,654 per unit.
The trend on Sunday, September 5, 2021, seems a lot different than years prior as bitcoin bulls are attempting to go higher. But with three weeks left in the month, anything can happen in the world of bitcoin markets.
What do you think about the current bitcoin market and historical September bitcoin price action? Let us know what you think about this subject in the comments section below.