This August may be the worst for bitcoin since 2015

The short-term future of bitcoin raises serious concerns about the prospects for monthly timeframes, as September is historically a «red» month. Data from Coinglass shows that BTC/USD hasn’t had such a bad August in seven years.

After two big drops in BTC prices in recent weeks, bitcoin holders are understandably scared, as historically, September has shown even worse results than August.

At the current price of $ 20,000, BTC has fallen by 14% this month, making August the biggest drop since 2015, when the BTC/USD pair showed a red monthly candle of 18.67%.

Subsequent years have shown that August can be a mixed bag when it comes to BTC price movements — for example, in 2017, the largest cryptocurrency gained more than 65% on a bullish trend.

However, there is one month when it comes to a guaranteed price drop, and that is September. It is already known as a «red» month for bitcoin, with average losses of almost 6% since the start of the Coinglass service in 2013.