Cryptocurrencies
Crypto Fans Gear Up for What May Be Another Tough September
- Bitcoin has declined in September for five consecutive years
- Bitcoin’s market share has dwindled to 68% from 77% in July
Photographer: Erhan Demirtas/Bloomberg
This article is for subscribers only.
After a cruel summer, crypto fans might be in for an unforgiving September, too.
The ninth month of the year has historically been one of the worst for the largest cryptocurrency, falling every September since 2017. Bitcoin has averaged an 8.5% drop for the month over the past five years, according to Bespoke Investment Group. Ether, the second-largest token, has also tended to suffer -- it has only risen a quarter of the time and has averaged a double-digit percentage decline.