The popular analyst discussed how the crypto industry can chart a path in September.
The analyst takes a look at the past years to see how digital assets might fare in September.
Popular Analyst Analyzed September
Popular analyst Benjamin Cowen addressed his 766,000 followers on his YouTube channel. Cowen pointed out that in nine of the last 12 years, Bitcoin has finished the month in the red:
“When we look back at the previous September months, we see that all but three were red. There is an upward movement of 2.5%, 6% and 15% in the three months ending in green”
Cowen stated that historical data for Ethereum also reveals a similar pattern.
“We can also look at other things like ethereum and see if they produce the same kind of results. On average it gives the same results.
In September, you see a -12% movement on the ETH side. This does not mean that all September will be red. There are also periods that are green. But looking at the historical average you would expect it to be red.
For example, just because this September is green doesn’t necessarily dispel the notion that September tends to be a red month for crypto. You can only see various deviations regardless of some norms”
The popular analyst continues to point to historical woes by looking at the crypto’s overall performance in September.
“You can see that September was the only month on average that was red in color as of 2010. The last time September was green for the total asset class was in 2015 and 2016. But we had five years in a row where September wasn’t that good.”
Despite this, Cowen said the digital asset market could still end September green:
“September is historically not a good month for crypto. Now does that mean we should definitely have a red moon? No, there is no such situation.”
