Bitcoin's Rare Three-Month Winning Streak Continues

Bitcoin's price has been on a three-month winning streak, which is a rare occurrence in its history. According to data from CoinDesk, Bitcoin's price rose by 4.8% in July and 25.2% in August, making it the first time since 2012 that the cryptocurrency has posted gains for three consecutive months. As of this writing, Bitcoin's price is trading at $86,140, which is 10.9% higher than its value in September.

The only other instance of a similar streak was in 2012, when prices rose by 41.0%, 6.4%, and 24.4% in July, August, and September respectively. However, October broke the streak with a 9.7% decline, but this led to one of the largest rallies in Bitcoin's history, with its price rising from $10.17 to $230 by April 2013.

While some cycle models suggest that Bitcoin may be entering a potentially bullish phase around October or November, it is difficult to draw conclusions based on a single precedent. The market for Bitcoin has changed significantly since 2012, with increased institutional participation and deeper liquidity across various exchanges.