Bitcoin's September performance has historically been disappointing, with eight instances of negative returns since 2013. However, it's on track to gain at least 9% this month, defying expectations and potentially setting a bullish tone for the following months.
October has been historically favorable for Bitcoin, with only two negative months since 2013. Strong conditions, including favorable global monetary policies and U.S. political support, could drive Bitcoin towards $70,000 from the current price of $64,000.
The unusual gain in September aligns with significant changes in market sentiment, characterized by increased institutional investments and positive political influence in the U.S. This suggests a shift in confidence leading into traditionally strong months for Bitcoin.
September's surprising performance is a departure from its historical patterns, indicating a possible bullish trend ahead. The seasonality phenomenon suggests that a positive September typically results in higher prices going into the closing months of the year.
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