Why Is September Bad Month for Crypto: 10 Best Crypto to Invest in 2023 Crash
Nova Reyes
Markets Navigator
The crypto market is known for its volatility, with price fluctuations that can send investors on a roller-coaster ride. September is often labeled as ‘The Bad Month’ for the crypto market. While pinpointing the exact reasons behind this trend can be complex, examining historical patterns and potential factors can shed light on why September might be perceived as a ‘Bad Month’ for crypto investments.
Why is September Considered a Bad Month for Crypto?
September tends to be a challenging month for both crypto and stock markets. There is no particular reason that justifies the market’s historical tendency to experience price corrections or downturns during this time. Investors often believe that the market will become bearish in September, leading them to sell off their assets. This selling pressure can cause a dip in prices. Historically, Bitcoin has faced significant downturns in September, with its price dropping by almost 19% in 2014. This pattern has led some to believe in the existence of a 'September curse.'
One speculated explanation for this trend is that it coincides with the end of the summer season in the northern hemisphere, which often results in less trading activity and market participation. Additionally, traders and investors who may have been less active during the summer months might return to the market in September, increasing selling pressure.
Changes in regulations regarding cryptocurrencies, along with global events, can create uncertainty in the market, leading to cautious investor behavior and potential price declines. September is also a month when important regulatory announcements are often made.
10 Cryptocurrencies to Buy in the September 2023 Dip
1. XRP
Current Price: US$0.5183
XRP, Ripple’s digital asset, has gained attention through its partnership with MoneyGram for faster and cost-efficient international payments. Its price has stabilized post-SEC rules, indicating strength.
2. Solana
Current Price: US$20.28
Solana’s collaboration with Chainlink to introduce secure decentralized oracles and the launch of the Solend DeFi derivatives platform enhance its attractiveness in the evolving crypto landscape.
3. Tron
Current Price: US$0.07635
Tron’s successful $600 million fundraising round led by Alameda Research highlights its expanding ecosystem and commercial adoption efforts.
4. Toncoin
Current Price: US$1.50
Toncoin’s entry into the NFT marketplace and collaboration with Bitfinex contributed to its significant price surge.
5. Shiba Inu
Current Price: US$0.000008122
Shiba Inu’s introduction of the Shibarium layer-2 blockchain and plans for its own metaverse position it for potential growth.
6. Stellar
Current Price: US$0.1184
Stellar’s partnership with MoneyGram for cross-border payments and recovery from previous lows make it a contender for investment this September.
7. Chainlink
Current Price: US$5.91
Chainlink continues to innovate with the launch of Chainlink Keepers, facilitating automated actions on the blockchain, while maintaining a price above $5.
8. Hedera
Current Price: US$0.0545
Hedera’s collaboration with Dropp for micropayments and notable price increases after partnering with FedNow demonstrate its versatility.
9. Optimism
Current Price: US$1.42
The introduction of Optimism Collective led to a price surge of over 50%, showcasing its new governance structure and encouraging adoption.
10. Maker
Current Price: US$1,025
Following the introduction of MCD, Maker’s price increased by over 30%, indicating a positive outlook for its enhanced utility.
In a Nutshell
Investing in cryptocurrency comes with risks due to its unpredictable nature. To make informed choices, it is crucial to conduct thorough research, consider your risk tolerance, and consult financial experts. While trends offer insight, the market remains unpredictable. Diversification, research, and long-term strategies are essential for better investment outcomes. September presents both opportunities and challenges that require caution. With careful strategies, investors can navigate this tough month successfully.