A crypto analyst with a large following looks at the performance of crypto markets over 12 years to determine what digital assets will look like this month.
The leading cryptocurrency entered the Red September!
Popular crypto analyst Benjamin Cowen shares his views on the cryptocurrency market in a new video update. The analyst tells 766,000 YouTube subscribers that Bitcoin (BTC) has finished 9 out of the last 12 September in the red. In this context, the analyst makes the following statement:
If we go back and look at previous Septembers, only back to 2010, it is possible to see that all but three were actually red. We only see that the green ones are moving up about 2.5%, 6% and 15%.
Source: Benjamin Cowen / YouTubeSeptember is not positive for the leading atcoin either!
Benjamin Cowen then moves on to the leading altcoin Ethereum (ETH). The analyst notes that historical data reveals a similar pattern for Ethereum. “It is possible that we could look at other things, like Ethereum,” Cowen said. We may wonder if this yields the same kind of results. But that’s true on average,” he says. In addition, the analyst makes the following assessment:
You see a -12% movement by ETH in September. This does not mean that all Septembers are red. There is a couple who are green. But historically, you would expect it to be red on average. For example, the fact that this September is green doesn’t necessarily dispel the notion that September tends to be a bloody month for crypto. It is only sometimes possible to see deviations outside of the norm, regardless of the norm.
Source: Benjamin Cowen / YouTubeHow is the cryptocurrency market in general in September?
Finally, Cowen looks at the performance of the cryptocurrency market by its total value (TMC). According to the analyst, data from previous years continue to further illustrate the historical September woes of the asset class. The popular analyst makes the following comment on the subject:
As of 2010, it is possible to see that the only month with red color on average is September. The last time September was green for the total asset class stretched back to 2016 and 2015. But we’ve had five years in a row where September wasn’t such a good month. If you take that back to 2017, the average return in September is about 7.5% on the downside.
Source: Benjamin Cowen / YouTubeAs you know from the cryptokoin.com news, crypto in general is mostly on the decline in September. However, Cowen says it is still possible for the crypto market to finish green this month. He explains his view as follows:
September has historically not been a good month for the crypto market. Now, does that mean we should definitely have a red moon? No it’s not. This is because playing something usually doesn’t mean it has to play every time.
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