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Bitcoin (BTC) Has Historically Seen A Bullish Reversal In The Month Of September
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Bitcoin (BTC) Has Historically Seen A Bullish Reversal In The Month Of September

Bitcoin Chart With Values Bitcoin (BTC) has historically seen a bullish reversal in the month of September. The weekly chart for BTC/USD shows that during its entire trading history on Coinbase, Bitcoin (BTC) has started a rally in September every single time. As Bitcoin (BTC) has already been through a correction, we should see three more of similar September rallies before the next correction. Between September 2015 and September 2016, Bitcoin (BTC) rallied but not as vigorously as during the rally that followed it. As we can see on the chart, this was the rally just after a correction. While Bitcoin (BTC) did reach a new all time high during this cycle, altcoins performed a lot better by reaching new all time highs not only in terms of US Dollar (USD) but also in terms of Bitcoin (BTC). Another important observation at this point would be the date of Bitcoin (BTC) halvening. As we have seen in the past, Bitcoin (BTC) has rallied leading up to a halvening event but the months after the halvening, it rallies the most and more aggressively. The last Bitcoin (BTC) halvening took place in July, 2016. If we look for that period in the above chart, we will see that it falls between within the range of the first rally which is the least aggressive one (Sep 2015 to Sep 2016). A few months after the halvening, Bitcoin (BTC) begins another rally between September 2016 and September 2017. As we can see on the chart, this is the most bullish period for Bitcoin (BTC) where it makes the most gains. Bitcoin Chart With Values The next halvening event for Bitcoin (BTC) is expected around June 2020. As before, the price is expected to rally leading to the halvening event but the rally will not be an aggressive one. Similarly, as before, altcoins will record the most profits in this period as they make new all time highs against Bitcoin (BTC) and the US Dollar (USD). Bitcoin (BTC) will thus be expected to eventually make a new all time high leading up to September 2019. However, between September 2019 and September 2020, Bitcoin (BTC) will make the most gains as the price rallies aggressively against the US Dollar (USD). As the market cap of Bitcoin (BTC) as well as the overall cryptocurrency market grows, it will become increasingly difficult to make the same gains as before and the price will ultimately stabilize in a narrow range. The weekly chart for BNC:BLX (Brave New Coin Liquid Index for Bitcoin)shows that Bitcoin (BTC) has reached the bottom of its long term ascending channel. Bitcoin (BTC) tested the top of this channel in late 2013 when the price reached around $1000. Since then, it has technically been in a correction to test the bottom of the ascending channel. That is why, since the inception of Bitcoin (BTC), this might be the next most opportune time to go long on Bitcoin (BTC) as the price has reached the bottom of its long term ascending channel and the fundamentals have never been better.

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