Bitcoin risks worst August since 2015 as hodlers brace for 'Septembear'

[Markuri33]

Serious cold feet over the outlook for monthly timeframes with September historically a "red" month. BItcoin (BTC) is on track to see its worst August performance since the 2015 bear market — and next month may be even worse.

Data from on-chain analytics resource Coinglass shows that BTC/USD has not had an August this bad for seven years.

September means average 5.9% BTC price losses
After two major BTC price comedowns in recent weeks, Bitcoin hodlers are understandably fearful — but historically, September has delivered even worse performance than August.

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.

Subsequent years have proven that August can be a mixed bag when it comes to BTC price performance — in 2017, for example, the largest cryptocurrency gained over 65% in a bullish record.

One month which has left no one guessing when it comes to probable price direction, however, is September. Already famous as a "red" month for Bitcoin, average losses since Coinglass records began in 2013 have been almost 6%.more