Does Bitcoin Like August? What’s Ahead for BTC This Month? Here Are Historical Data and Predictions!

Bitcoin (BTC) and the general cryptocurrency market in July was quite active. US presidential candidate Donald Trump was assassinated and survived with minor injuries. Cryptocurrency exchange Mt. Gox, which went bankrupt 10 years ago, has started to repay its creditors. Major countries such as Germany and the US sold the Bitcoins they seized. In the US spot Ethereum ETFs opened for processing.

at this point Bitcoin Its price rose 3.09% in July, falling short of its historical average monthly return of 8.26% for July.

Investors are pinning their hopes on the rise in the coming months. Does Bitcoin Like August? How Has It Performed in Previous Augusts? What’s in Store for Bitcoin and Crypto Markets in August? Let’s look at the answers to your questions.

How Did Bitcoin Perform in August?

When we look at Bitcoin’s performance over years and months, we notice that declines are concentrated in certain months and increases are concentrated in certain months.

Above Bitcoin When we look at the monthly return table, if we make a general statement, we see that March, August and September are generally the months of decline; February, July, October and November are the months of increase.

At this point, when historical data is examined, Bitcoin closed August with an increase in only 4 of the last 11 years, while it closed August with a decrease in the remaining seven years.

Accordingly, Bitcoin increased by 30.42% in 2013; 65.32% in 2017; 2.38% in 2020 and finally 13.8% in 2021.

In comparison, Bitcoin fell by 17.55% in 2014; 18.67% in 2015; 7.49% in 2016; 9.27% ​​in 2018; 4.6% in 2019; 13.88% in 2022 and finally 11.29% in 2023.

August May Be a Slow Month for Bitcoin!

While it is wondered how BTC, which started 2024 with a small decrease of 0.64%, will perform in the rest of August, analysts state that there are many factors that will affect BTC’s performance.

Accordingly, in August, Mt. Gox’s Bitcoin refund process will continue, a decision may be made in the Ripple-SEC case, US inflation data will be announced on August 14, and the Democratic Party will determine its presidential candidate at the convention to be held between August 19-22 (as is known, US President Joe Biden withdrew his candidacy).

While important events that may affect the price of Bitcoin are awaited, it attracts attention with its successful predictions. Markus Thielen, founder of 10X ResearchHe thinks that the rise in BTC will not be as fast as expected and depends on macroeconomic factors in the US.

Stating that Bitcoin has potentially entered a slow period at this point, Thielen said that BTC went sideways in August and showed a downward trend in September.

*This is not investment advice.