Bitcoin on track for best September on record up 8.36%

Insights

Bitcoin gains in September, outperforming historical trends.

Bitcoin gained 8.36% in September, surpassing all previous performances for the month, according to data shared by Satoshi Club via Coinglass. Historically, September has seen Bitcoin average losses of around 3.68%. This year’s gain contrasts with declines in previous years, such as a 13.38% drop in 2019 and a 7.51% decrease in 2020.

As October approaches—a month often referred to as “Uptober” due to its historically strong performance—market participants are optimistic. October has averaged gains of nearly 23% in past years, fueling speculation about a potential rally to new all-time highs.

The combination of a gain in September and the upcoming October, coupled with the post-halving environment, sets the stage for potential significant movements in Bitcoin’s price. Additionally, new FASB rules for crypto reporting align with September being the end of the third quarter, a critical time for public companies holding crypto regarding finances.