AI Trading

When to Buy Bitcoin

Popular crypto analyst CryptoBird has shared on his X account an analysis of Bitcoin for the remaining months until the year comes to an end. He says that September has been the weakest month since the emergence of BTC, thus presenting the best buy opportunities. CryptoBird adds that October and November have historically been profitable months.

The crypto analyst has also shared historical statistics to support his statement that September is a loss-making month. The data shows Bitcoin has been in the red every September for the past six years before turning green at the start of October. CryptoBird then claims the fourth week of this month is the best time to purchase BTC.

However, he admits that the historical data doesn’t guarantee buying the dip now will result in profits next month. He says the statistics do not determine future price action. Still, CryptoBird doesn’t hesitate to say that this week is the appropriate time to go long on Bitcoin, given that history has repeated itself severally in the crypto space.

Coinglass Quarterly Report for Bitcoin

Meanwhile, Coinglass data shows the final quarter of the year has mostly been profitable, while the third quarter, which starts from July to September, has often produced the least profits. For example, in 2020, Bitcoin investors made an 18% profit in the third quarter and 168% in the final quarter. This data supports CryptoBird’s argument that the last week of the third quarter presents the best time to buy.

AI Trading

Coinglass Monthly Report for Bitcoin

In terms of monthly returns, Coinglass statistics indicate that September has closed in the green only twice: in 2015 and 2016, when it produced profits of 2.32% and 5.98%, respectively. On the contrary, the following two months have been different. November has posted losses only thrice: in 2019 (-18%), 2022 (-17.2%) and 2018 (-32%). On the other hand, October has recorded losses only twice: in 2008 (-3.8%) and (-8.9%).

Although November has posted more losses than October, it has always witnessed the most profits. However, conservative Bitcoin investors should consider focusing on October since it records minimal losses and stable gains even though smaller than those realized in November.

AI Trading produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

James Davis

By James Davis

James Davis is a prominent crypto writer and analyst at Herald Sheets, recognized for his well-researched articles and thorough analysis of the dynamic digital currency market. Holding a degree in Economics from Harvard University, James combines his academic background with a keen interest in cryptocurrency to provide readers with the latest industry insights and trends.