RATE Group | Bitcoin Price Makes Second Straight Monthly Loss in September
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Bitcoin Price Makes Second Straight Monthly Loss in September

30 Sep Bitcoin Price Makes Second Straight Monthly Loss in September

Posted at 20:42h in Bitcoin News by

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Bitcoin (BTC) is reporting losses for a second straight month, but there are hints of a bullish breakout ahead in the fourth quarter.

At press time, the leading cryptocurrency is trading at $6,570 – down 6.30 percent from September’s opening price of $7,014. BTC also registered a 10-percent decline in August, according to CoinDesk’s Bitcoin Price Index (BPI).

However, despite the back-to-back monthly losses, the cryptocurrency is flashing a 2 percent gain for the third quarter. Further, the quarterly gain could have been much bigger had the US Securities and Exchange Commission (SEC) not rejected a notable application for a bitcoin exchange-traded fund (ETF).

July: BTC trapped bulls on the wrong side of the market

Bitcoin jumped to a two-month high of $8,507 on July 25, confirming an upside break of the four-month-long falling channel.

However, the long-term bearish-to-bullish trend change was short-lived as prices fell back below $8,000 on July 27, courtesy of the SEC’s…

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