Why is Bitcoin's monthly return rate the lowest at the end of September? October is more worthy of attention

Bitcoin investors could be in for a roller coaster ride. While history shows September is typically a bumpy month for bitcoin, two ETF analysts are suggesting investors turn their sights to mid-October as the next “big day to watch.”

According to historical data, Bitcoin's monthly returns have been negative nine times by the end of September over the past 13 years.

Will Clemente, a popular cryptocurrency analyst, told his 689,000 followers that September was the “fewest month for positive returns” and had seen six consecutive years of negative returns.

There are many other factors suggesting that September will be a bumpy road ahead, with Material Indicators warning that a “full-blown correction” of gains following Grayscale’s victory over the SEC could be the direction of action for the largest cryptocurrency moving forward.

However, looking ahead, Bloomberg ETF analyst James Seyffart urged investors to keep an eye on mid-October, the second deadline for the SEC’s decision on seven pending spot bitcoin ETFs, specifically those from BlackRock, Bitwise, Valkyrie, WisdomTree, VanEck, iShares, and Invesco.

On August 30, Seyffart and Bloomberg ETF analyst Eric Balchunas said there is a 75% chance that a spot Bitcoin ETF will be approved by the end of this year. The mid-October date will be the SEC’s deadline until at least 2023.

Additionally, Seyffart noted that delays in the latest round of spot bitcoin ETF applications were widely expected, and he would be shocked if those applications were approved within last week’s first round deadline.

Following a brief spike on the Grayscale news, the price of Bitcoin has fallen 4.5% in 24 hours, changing hands at $26,066 at the time of writing, according to Coingecko.