Will Bitcoin See Another Major Crash by September 5th?

Bitcoin has recently experienced its second worst monthly close of the year in 2024, with an 8.6% loss in August. This is only surpassed by April’s losses, where the price fell by 14.76% in one month. The red close in August has created unease among investors, leading to mixed feelings about the upcoming month of September. Some believe that Bitcoin’s price will rebound during this time, while others are more pessimistic, with one analyst even predicting a significant price drop.

A crypto analyst using the username @thedefivillian on X (formerly Twitter) has pointed out a possible price crash looming for Bitcoin. The analyst notes that the previous two months witnessed steep price declines for the premier cryptocurrency, and September is likely to follow suit. Specifically, the analyst points out a pattern where significant price crashes occurred on the 5th of each month. July 5 saw Bitcoin falling below $55,000, while August 5 witnessed another major crash pushing the price below $50,000. With expectations of a bearish September, the analyst warns that another crash might be on the horizon.

September has historically been a bearish month for Bitcoin, with negative returns in both the average and median price movements. Out of 12 years of historical data, September has yielded negative results for nine years. With the current month already starting in the red and failing to reclaim the $60,000 level, the outlook for Bitcoin in September appears grim. If this trend persists, September could potentially be even worse than August in terms of price declines.

Despite the prevailing bearish sentiment, there is hope for Bitcoin investors looking forward. Historically, September has often been the last bearish month before the beginning of a bull market. This suggests that investors may only have to endure one more month of losses before the arrival of a bullish trend. While the short-term outlook for Bitcoin may appear bleak, there is a possibility of a turnaround in the near future.

The prediction of another major crash in Bitcoin’s price by September 5th has raised concerns among investors. The historical data regarding September’s bearishness adds weight to these concerns, making it crucial for investors to monitor the market closely in the coming weeks. Despite the potential for further losses, there is optimism that Bitcoin may soon embark on a bull run, offering a silver lining for long-term investors.