in the year 2024 after completing August with 8.6% losses. This falls short only to April losses when the price fell 14.76% in one month. As this red close has shaken investors, mixed feelings have followed the month of September. While some expect the Bitcoin price to recover during this time, others expect that the bearishness will continue, with one analyst expecting a significant drop in price.
September To Witness Another Bitcoin Price Drop?
A crypto analyst who goes username @thedefivillian on the X (formerly Twitter) platform a possible price crash coming for Bitcoin. The crypto analyst points out that the last two months have seen massive drops in price for the pioneer cryptocurrency and September will not be any different. More specifically, the crypto analyst points out that the 5th of each month has seen a price crash. The first was on July 5, when the Bitcoin price crashed below $55,000. Then again, on August 5, saw another major crash that pushed it below $50,000.A Bearish Month To Reckon With
Historically, the month of September has been very bearish for the Bitcoin price. This fact is also made more prominent by the fact that the month has already started out in the red as the BTC price has failed to reclaim the $60,000 level again, according to from Coinglass.
However, there is light at the end of the tunnel for the Bitcoin price given that the month of September has often been the last bearish month before each bull market began. This means that investors may only have one month more to suffer losses before the bull run begins.