Top 5 Clear Signs Indicating a Major Bitcoin Bull Run Could Happen This September 2024
September is widely perceived as a difficult month in the cryptocurrency market, especially for Bitcoin. Based on this historical data, Bitcoin averages a loss of -6.18% in September, with median performance being an even greater loss at -4.43%.
While historical trends may not be valid for cryptocurrencies, which are more volatile in general, a $1.2 trillion asset that has been trading regularly for 11 years would make its price history an important consideration.
Given the long tradition of negativity about September, it is interesting that some experts are taking contrarian views and speculating on sweet patches. They provide 5 main reasons due to which the Bitcoin price performed bullishly this September, contrary to usual behavior.
Indeed, they specifically note this with an argument that is primarily historical in nature even though history is frequently ignored by market participants when it comes to crypto. Of those negative Augusts, September was up about 43% of the time, per Spot On Chain. Given this statistic, there may be a market relief rally on the horizon from its current disgraced standing.
A further positive sign for any potential bull run is that fewer major Bitcoin holders have been selling, thereby seeing supporting this activity as a likely indicator of the next phase. In addition to that, key market movers such as the German government and Mt.
Gox have recently pushed some of their BTC onto the open market (together with Genesis Trading), selling more than 170k BTC during July and August. Though the sales were very high-impact, the U.S. government (which still controls more than 203,000 BTC) has taken a bit of a slower approach to selling its coins by choosing over-the-counter options that don’t disrupt market accommodation, even though they offer a fewer glimpse into the sale volume direction, as seen above with bitcoins amount comparison bar data.
Rollback Post to Revisionary means all disputing between trials is in favor of Reset discussions. Authorization (“I’m n” I’m not sure.”). The decrease in selling activity by large holders would serve to stabilize the markets and pave the way for an uptick in price.
Moreover, the trust of long-term holders in Bitcoin is also demonstrated by the 262k BTC increase to their holdings during August. With 75% owned by these holders, it is clear they also believe strongly in what Bitcoin stands for and its potential in the future.Nonetheless, top anonymous wallets that contain big amounts of Bitcoin have stayed out of action, and this drop is unlikely to experience sudden large-scale sell-offs.
We are also likely to see a strong entry of investments in Bitcoin ETFs, which is another bullish signal. But given a small net outflow this past August, history indicates inflows of $500 million to as much as $1.5 billion might be tapped in September.This could give Bitcoin another push upwards during the month, as further investment would support its price.
Other factors that may stir the market include likely revisions in monetary policies and new regulatory measures. The Federal Reserve could be cutting interest rates and FTX paying $16 billion in cash to lots of Bitcoin demand.On the other hand, more pro-crypto regulations in the U.S., which are already beginning to take shape through an increasingly powerful coalition of politicians coming out and showing support for crypto-friendly policy changes, might increase investor sentiment and add positive wind under a strong Bitcoin-on-September upswing.
In short, despite Bitcoin’s tumultuous September track record, it is looking to potentially be different this year. Alongside reduced selling pressure from top players, strong HODLer confidence, expected ETF inflows, and favorable macroeconomic as well as regulatory backdrops, it’s a month to watch for Bitcoin.