Bitcoin (BTC) Smashes 13-Year Jinx... A Repeat of 2019 and 2023

▲ Bitcoin (BTC)

Bitcoin (BTC) has broken a 13-year trend, successfully closing higher in every month of the third quarter for the first time in history. Amidst breaking through the September decline jinx head-on, an analysis suggests that investor sentiment, which has shifted from extreme fear to greed, precisely matches the fractal of bottom escape from past bull markets.

According to BeInCrypto, a virtual asset media outlet, on October 1st (local time), Bitcoin closed with positive candles in July, August, and September, setting a record for the first time in history of rising every month in the third quarter since relevant aggregations began. According to CoinGlass, Bitcoin rose by 42.71% during this third quarter, achieving the second-highest third-quarter return rate in history since 2013, following 80.41% in 2017. Historically, September has repeatedly shown weakness with an average negative return rate, but this quarter completely overturned the seasonal bearish pattern.

The dramatic reversal in market sentiment indicators is also replicating the early phase of past explosive rebound cycles. The Crypto Fear & Greed Index plummeted to 5, an extreme fear level, on February 12th, then surged vertically to the greed stage through the third-quarter rally. Analysts evaluate that the psychological fractal of the Fear Index hitting a single-digit bottom and rapidly rebounding to greed perfectly aligns with the market recovery patterns of 2019 and 2023, which were the early stages of major bull markets.

The fact that the fourth quarter has traditionally recorded the highest annual growth rate is also a backdrop fueling expectations for an additional rally. In 10 out of the last 15 years, October has closed higher, and in years where September ended with a rise, the probability of an additional surge in the fourth quarter was very high.

Experts analyze that the destruction of the historical 13-year pattern signifies a fundamental change in the long-term trend structure, beyond a mere rebound. Market attention is focused on whether the bullish momentum towards reclaiming all-time highs in the fourth quarter can continue, building on the monthly gains of the third quarter.

[Key Article Summary]

-Bitcoin broke a 13-year trend by closing higher in July, August, and September, marking the first time in history it rose every month of a third quarter.

-According to CoinGlass, it recorded a 42.71% increase in the third quarter, making it the second-best performance since 2017.

-The psychological fractal of the Fear Index rapidly rebounding from 5 to greed aligns with the bull markets of 2019 and 2023.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*