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After a solid bull run during the last month of August, the crypto market entered a strong correction in September. From the September high of $52,701, Bitcoin (BTC) has crashed more than 20% moving under $42,000 as of date.
Historically, September has been the month of strong volatility over the last decade, wherein Bitcoin and the overall crypto space have given negative returns. However, retail investors shouldn’t resolve to panic selling.
Rather, they should be preparing for the Q4 bull run. Several market analysts note that the fourth quarter has always remained bullish for the crypto market.
September is bad.
October is great.
November is great.
December is great.Buy the f*cking dip. pic.twitter.com/eyv75BkgC4
— Michaël van de Poppe (@CryptoMichNL) September 21, 2021
Popular market analyst Lark Davis writes that we still haven’t reached the top and Q4 will make several crypto millionaires this year. Back in April, when BTC was trading around its all-time high, Davis wrote that we are still only halfway through the Bitcoin bull run. Davis wrote:
Despite market drama we’re actually going through rather “normal” BTC cycle. BTC now is looking a lot like 2013. If we believe in the lengthening cycle theory then BTC is highly unlikely to have topped in April, more likely is late 2021, early 2022.
Bitcoin Repeating the Past Bull-Run Pattern
Showing Bitcoin’s historical price charts, Davis explains that the last two bull runs of 2013 and 2017 saw sell-offs in July followed by a bull run. Then again a sell-off in September followed by a massive bull run in the subsequent quarter i.e. Q4. In all the previous bull runs, Bitcoin has registered a parabolic yearly finish.
Furthermore, on-chain data shows bullish fundamentals for Bitcoin. The BTC supply across exchanges has been on a decline since the peak of March 2020.
The liquid supply of #bitcoin peaked in early 2020, IMO it will never be that high again. It was the high water mark. 2020's will be a supply side crisis for BTC. pic.twitter.com/FEyP5jKYRi
— Lark Davis (@TheCryptoLark) September 15, 2021
As Glassnode reports, the Bitcoin supply with short-term holders has been on a decline. Since Bitcoin (BTC) attained its peak of $65,000, nearly 2 million BTC have exchanged hands from short-term holders to long-term holders. At the same time, the supply held by the Bitcoin whales has been on the rise.
#bitcoin whales 🐋 pic.twitter.com/Q4VTnyja8c
— Raul O. Gonzalez Castilla (@RaulGlzC) September 22, 2021
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