Bitcoin investors may be in for a rollercoaster ride. While history shows September is typically a bumpy month for Bitcoin, two ETF analysts have suggested investors turn their gaze to mid-October as the next “major days to watch.”
According to historical data, Bitcoin’s monthly returns have closed in the red at the end of September nine times over the course of the last 13 years.
Popular crypto analyst Will Clemente informed his 689,000 X followers that September has had the “least number of positive-returning months” and is on a six-year negative-returning streak.
Bitcoin’s returns broken down by months
September has had the least number of positive-returning months at just two and is on a 6-year negative-returning streak. pic.twitter.com/4VqZkMubm3
— Will Clemente (@WClementeIII) August 31, 2023
There are a number of other factors that point to a bumpy road ahead in September as well, with monitoring resource Material Indicators warning that a “full retrace” of gains made the wake of Grayscale’s victory over the SEC was a likely course of action for the largest cryptocurrency moving forward.
TLDR: Trend Precognition signals ⬇️ on the D chart Prepare to round trip the range
BTC >$27,760 invalidates the signal
BTC #Bearadise
To expand on what @TradingParrot shared earlier, on the #Bitcoin D candle Close/Open, Trend Precognition presented a… pic.twitter.com/sX3Bqj3v57
— Material Indicators (@MI_Algos) August 31, 2023
Looking ahead, however, Bloomberg ETF analyst James Seyffart has urged investors to look to mid-October, which is the second decision deadline for the SEC for seven pending spot Bitcoin ETFs — specifically ones from BlackRock, Bitwise, Valkyrie, WisdomTree, VanEck, iShares and Invesco.
NEXT DATES TO WATCH:
Middle of October are the next major days to watch. Namely October 16th. (& @GlobalXETFs’ Oct 7)
Also, reminder that we fully expected delays on this round of spot #Bitcoin ETF filings. Would have been a shock if they were approved this week. pic.twitter.com/i14fg8FWun
— James Seyffart (@JSeyff) August 31, 2023
Related: BlackRock’s Bitcoin ETF the 7th application delayed…
..
