JUST

2024

Bitcoin

when

Spot

This year, Bitcon’s September returns recorded a positive 7.29%. Since its inception, Bitcoin has spent most of September in the red. However, it bucked that trend this year.&nbsp;
According to CoinGlass, Bitcoin only managed to stay in the green in four previous Septembers, which happened in 2015, 2016, 2023 and now in 2024. In September 2015, BTC achieved positive returns of +2.35%, then +6.04% after 12 months. In September 2023, BTC recorded +3.91%.&nbsp;
This year, Bitcoin reached new levels, gaining +7.29%. According to historical data, when Bitcoin has a positive September, the market always takes off parabolically.&nbsp;&nbsp;
<h3 id="span-style-font-weight-400-bitcoin-over-performs-in-september-span">Bitcoin over performs in September</h3>
BTC started the past month at a price of $58,253.18 and continued to decline until September 7 when it reached $53,304.62. After that, the coin started climbing the chart and recorded a high of $65,934 on the 28th, almost touching the $66,000 mark.&nbsp;&nbsp;
The price surge could be attributed to many reasons. First, Bitcoin Spot <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow" target="_blank">ETFs</a> recorded a staggering net inflows of $494.27 million during the last 30 days. Additionally, Bitcoin whales such as Microstrategy and Metaplanet have accumulated Bitcoin heavily. Microstrategy added 25,720 BTC last month only. That’s equal to $1.637 billion. Metaplanet purchased 146.37 BTC, equivalent to $9.31 million.&nbsp;
Centralized exchanges saw a decline in the total amount of BTC coins held. In the last 30 days, centralized exchanges saw an <a href="https://www.coinglass.com/Balance" rel="noopener noreferrer nofollow" target="_blank">outflow</a> of 45,544.27 BTC coins. That’s a decrease from 2.9 million BTC to 2.3 million coins. This indicates that retail investors and whales are holding Bitcoin strong.&nbsp;
<blockquote class="twitter-tweet" data-theme="dark">
 JUST IN: <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Bitcoin</a> had its BEST EVER price performance in September!
 Bullish 🚀 <a href="https://t.co/EI6mxwHnpo" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/EI6mxwHnpo</a>
 — Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1841067556901155034?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">October 1, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h3 id="span-style-font-weight-400-will-uptober-bring-an-all-time-high-span">Will Uptober bring an all-time high?</h3>
Many Bitcoin enthusiasts are looking forward to October, aka Uptober. According to CoinGlass, Bitcoin has always been in the green during October except in 2014 and 2018, and those were during bear markets.&nbsp;
Historical charts show that BTC always starts October with a red candle in the first week. After that, the trend changes and BTC begins to climb higher. The short-term price action is expected to become volatile.&nbsp;
MisterCrypto <a href="https://x.com/misterrcrypto/status/1841105283827056817" rel="noopener noreferrer nofollow" target="_blank">predicted</a> that Bitcoin might hit $80,518.40 in October, followed by $89,727.02 in November, then break the $100k mark in December. His prediction is based on the average gains of Bitcoin during Q4.&nbsp;
Currently, Bitcoin is standing at $62,636.73, with a 2.2% decline in the last 24 hours, and a 24-hour trading volume of $33.5 million.&nbsp;

Bitcoin just had its best September in history

Table of Contents

Cryptopolitan_News

Other articles published on Oct 1, 2024

Ripple’s XRP Rises as the Dollar Declines and Offers Solutions

Digital Asset Funds Add $1.2B Amid US Dovish Policy Hopes

Qubetics Unveils Seamless Integration for Bitcoin, Ethereum, and Solana

Ripple Prepares for the Launch of RLUSD Stablecoin to Boost XRP Price

Why Is The Crypto Market Down Today? Bitcoin Price Dips to $60K

Gemini to Wind Down Operations in Canada by End Of 2024

Join our free newsletter for daily crypto updates!