Bitcoin Repeats Rare Three-Month Streak
A rare three-month streak in Bitcoin's price action is unfolding, reminiscent of 2012. If Bitcoin closes September higher, it will have ended July, August, and September all in positive territory, a pattern only seen before in 2012.
According to CoinDesk data, Bitcoin rose 4.8% in July and 25.2% in August, while its gain since the start of September stood at 10.9%. This calendar pattern is rare, as each month of the third quarter, July, August, and September, has closed with a gain.
The only previous example of this was in 2012, when Bitcoin gained 41% in July, 6.4% in August, and 24.4% in September.
However, after the 2012 streak ended in October, the price bottomed at $10.17 on October 26, before embarking on a 165-day rally that took Bitcoin to $230 in April 2013, with gains of more than 2,000%.