{"id":488431,"date":"2022-08-28T13:10:34","date_gmt":"2022-08-28T10:10:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-risks-worst-august-since-2015-as-hodlers-brace-for-septembear\/"},"modified":"2022-08-28T13:10:34","modified_gmt":"2022-08-28T10:10:34","slug":"bitcoin-risks-worst-august-since-2015-as-hodlers-brace-for-septembear","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-risks-worst-august-since-2015-as-hodlers-brace-for-septembear\/","title":{"rendered":"# Bitcoin risks worst August since 2015 as hodlers brace for &#8216;Septembear&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35d2c511c17\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35d2c511c17\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-risks-worst-august-since-2015-as-hodlers-brace-for-septembear\/#%E2%80%9D_Bitcoin_risks_worst_August_since_2015_as_hodlers_brace_for_%E2%80%98Septembear_%E2%80%9C\" >&#8221; Bitcoin risks worst August since 2015 as hodlers brace for &#8216;Septembear&#8217; &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-risks-worst-august-since-2015-as-hodlers-brace-for-septembear\/#September_means_average_59_BTC_price_losses\" >September means average 5.9% BTC price losses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-risks-worst-august-since-2015-as-hodlers-brace-for-septembear\/#Monthly_chart_%E2%80%9Clooks_really_ugly%E2%80%9D\" >Monthly chart &#8220;looks really ugly&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_risks_worst_August_since_2015_as_hodlers_brace_for_%E2%80%98Septembear_%E2%80%9C\"><\/span>&#8221; Bitcoin risks worst August since 2015 as hodlers brace for &#8216;Septembear&#8217; &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>BItcoin (BTC) is on track to see its worst August performance since the 2015 bear market \u2014 and next month may be even worse.<\/p>\n<p>Data from on-chain analytics resource <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/today\">Coinglass<\/a> shows that BTC\/USD has not had an August this bad for seven years.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"September_means_average_59_BTC_price_losses\"><\/span>September means average 5.9% BTC price losses<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After two major BTC price comedowns in recent weeks, Bitcoin hodlers are understandably fearful \u2014 but historically, September has delivered even worse performance than August.<\/p>\n<p>At $20,000, BTC\/USD is down 14% this month, making this August the biggest loser since 2015, when the pair posted an 18.67% red monthly candle.<\/p>\n<p>Subsequent years have proven that August can be a mixed bag when it comes to BTC price performance \u2014 in 2017, for example, the largest cryptocurrency gained over 65% in a bullish record.<\/p>\n<p>One month which has left no one guessing when it comes to probable price direction, however, is September. Already famous as a &#8220;red&#8221; month for Bitcoin, average losses since Coinglass records began in 2013 have been almost 6%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Historically September Down Month<\/p>\n<p>&#8216;Septembear&#8217;<\/p>\n<p>\u2014 Trader_J (@Trader_Jibon) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Trader_Jibon\/status\/1563033432883531777?ref_src=twsrc%5Etfw\">August 26, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This time around, macro instability is combining with tradition to deliver gloomy projections from analysts.<\/p>\n<p>&#8220;Equities market in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> isn&#8217;t looking good right now so this dip on $BTC is a reflection on that,&#8221; trader Josh Rager <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Rager\/status\/1563517183342542849\">summarized<\/a> as Bitcoin threatened $20,000 support. <\/p>\n<blockquote><p>&#8220;September in general isn&#8217;t historically a great month. Possibly dip here that ends up being buyers opportunity for following months. I&#8217;ll be a spot buyer for long term on sub $20k.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Rager\/status\/1563517183342542849\/photo\/1\"><\/a><\/p><\/blockquote>\n<p>Rager was continuing a debate over the likelihood of bitcoins from the Mt. Gox rehabilitation process being sold en masse by creditors due to receive them after an eight-year wait. As Cointelegraph reported, many believe that such an event will not occur, with fears to the contrary unsubstantiated.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/824cd87d-5bbf-4bb8-a3cb-fe4325c868ad.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD monthly returns chart (screenshot). Source: Coinglass<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Monthly_chart_%E2%80%9Clooks_really_ugly%E2%80%9D\"><\/span>Monthly chart &#8220;looks really ugly&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Turning to the monthly close, nervous commentators focused on whether Bitcoin could avoid a monthly candle finishing below the $20,000 mark.<\/p>\n<p><strong><em>Related:\u00a0Why September is shaping up to be a potentially ugly month for Bitcoin price<\/em><\/strong><\/p>\n<p>Were it to fail to do so, BTC\/USD would rival June in terms of lows absent from the chart since the end of 2020.<\/p>\n<p>Worse still, such an event could spark a snowball sell-off, a concerned Galaxy Trading warned <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers over the weekend.\u00a0<\/p>\n<p>&#8220;On a monthly TF things look really ugly,&#8221; it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GalaxyTrading_\/status\/1563810476445794304\">wrote<\/a> on the day.<\/p>\n<blockquote><p>&#8220;If in 3 days monthly candle closes below 20k , this could trigger a big sell off to at least 14k where the next big support is located. The reason is close below 19900 means bearish engolfing candle which in a big TF is really bad.&#8221;<\/p><\/blockquote>\n<p>A move substantially below $20,000 would violate a pivot zone in place since the first move above that level in 2020, as highlighted by Caleb Franzen,\u00a0senior market analyst at Cubic Analytics.<\/p>\n<p>&#8220;Bitcoin looks poised for a deeper retest of the key pivot range, identified by using the December 2017 monthly wick &amp; close. This range acted as perfect resistance in 2019, acted as a launchpad in 2020, and has been attempting to act as support in 2022,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CalebFranzen\/status\/1563237724915580928\/photo\/1\">explained<\/a> about the monthly chart.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CalebFranzen\/status\/1563237724915580928\/photo\/1\"><\/a><\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/80753e2b-e577-4d87-90f9-d232ef751b44.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-month candle chart (screenshot). Source: Caleb Franzen\/ Twitter<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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Data from on-chain analytics resource Coinglass shows that BTC\/USD has not had an August this bad for seven&#8230;<\/p>\n","protected":false},"author":1,"featured_media":488432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvMTQwYjFkNWEtYmZkMS00YzJiLWE3NTAtMWRlYzZlNDRiZmM5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-488431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/488431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=488431"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/488431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/488432"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=488431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=488431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=488431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}