Bitcoin's on a streak it hasn't hit since 2012
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Bitcoin is on track to achieve a three-month winning streak from July to September for the first time since 2012. In 2012, this streak was followed by a 9.7% price drop in October and then a rally exceeding 2,000% over the subsequent 165 days. Currently, Bitcoin has risen 4.8% in July, 25.2% in August, and is trading 10.9% higher as of September at $86,140.
Why it matters
The source highlights the rarity of this three-month winning streak and references the historically significant rally that followed a similar pattern in 2012. This development is noteworthy because some market cycle models point to a potential bullish phase starting around October or November, although no definitive prediction can be made. The source suggests the current market's size and complexity make a repeat of the 2012 rally's magnitude unlikely.
Key context
Bitcoin’s last multi-month winning streak occurred in 2012, leading to a substantial rally preceded by a brief price correction. Since then, Bitcoin has evolved into a multi-trillion-dollar market with deep liquidity and institutional participation, which contrasts with its thinly traded early days. The source notes that historical cycle patterns in Bitcoin are approximate and that the 2012 pattern is based on a very small sample size.
Key numbers and entities
Bitcoin’s July gain: 4.8% August gain: 25.2% September gain (so far): 10.9% at $86,140 2012 monthly gains referenced: 41.0% (July), 6.4% (August), 24.4% (September) October 2012 decline: 9.7% Post-October 2012 rally: over 2,000% gain over 165 days Source: CoinDesk data and analysis
What remains unclear
The source does not establish whether the current streak will lead to a similar October decline or a subsequent large rally as in 2012. It also does not clarify how external factors or recent market developments might influence Bitcoin’s price trajectory following this streak.