Bitcoin managed to break a record of three consecutive years of negative returns in the summer, but now it is entering what is often considered the weakest period in its history, known as “Red September”.
September earned the title because it recorded the lowest monthly returns for Bitcoin on average, with a drop of around 3.77% in the 12 years since 2013.
This record also witnessed two major crypto-related bans imposed by China, in 2017 and 2021 respectively, which put a lot of pressure on the market at that time.
The negative performance was even more pronounced when Bitcoin recorded six consecutive years of losses in September from 2017 to 2022. However, the pattern began to change in 2023 when Bitcoin recorded two consecutive years of gains in September, including a best-ever increase in 2024 of 7.29%.
History also shows that September dips are usually short-lived.
According to CoinGlass data, Bitcoin has often performed better in October, dubbed “Uptober,” with a record of six consecutive years of gains and only two losses in history.
While September has traditionally brought pressure to Bitcoin prices, the pattern of increasingly stable performance over the past two years suggests the market may be moving into a stronger phase.
However, investor sentiment and macroeconomic factors remain the key determinants of whether or not the history of ‘Red September’ will repeat itself.
