Could September Be Bitcoin’s Toughest Month?

September is off to a rough start for Bitcoin, with the coin at $58,313 and struggling to get above the crucial $60K level.

In fact, Bitcoin has spent no time at $60K or above since the month started, which aligns well with assessments that September is historically a very difficult month for the crypto coin and will likely be similarly tough again this year.

Bitcoin started off 2024 at $44K, so it has come a long way, but ever since it hit a new record high early on, the coin has had a tough time trying to reach back to those early 2024 heights. Investors have continued to lose faith in the coin as it has failed to hit one predicted milestone after another.

Investors should not expect Bitcoin to reach $100,000 this year, nor should they expect it to set a new record high anytime soon. Bitcoin investors will have to play the long game with this coin, especially now as it begins an arduous journey through September.

The September Battle

As the month started off, many industry insiders were quick to point out that Bitcoin has historically had a tough September, and the stock markets also struggle during this month. It is a time when many consumers tighten their belts, knowing that the holidays are coming soon and they will be spending a lot more money then.

While many investors hope that federal interest rate cuts will help boost Bitcoin, some analysts think it will cause the Bitcoin price to plummet. September is already a volatile time for the crypto token, and the internet rate cuts could undermine the value of cryptocurrency, leading Bitcoin to fall to $50K or below.

Some estimates put Bitcoin’s September low at around $40K, which would seriously undermine its value for the remainder of the year. There are few positive factors that look promising for the coming weeks that have the potential to lift Bitcoin well past $60K or to keep it from falling far this month.