Bitcoin (BTC) on Verge of Worst Month in Price History
Main Idea
Bitcoin (BTC) is historically prone to significant price declines in August, with data showing consecutive years of negative returns during this month.
Key Points
1. August is Bitcoin’s worst-performing month, with an average return of -0.23% and repeated sell-offs.
2. In 2024, BTC fell by 8.73% in August; in 2023, it dropped 11.2%, and in 2022, it declined by 14%.
3. BTC is currently trading around $119,000 after ending July with an 11.3% monthly gain, but August’s historical trend suggests potential downside.
4. Positive August performances, like +14% in 2021 or +2.54% in 2020, occurred during bull cycles, but the current market may face mean-reversion pressure.
Description
Bitcoin (BTC) bulls, beware — Nine days remain before worst month in price's history
$BTC
$119826.8
+2.10%
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