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Adam Back, the Blockstream CEO and a man mentioned in the Bitcoin whitepaper, often speculated as a possible Satoshi Nakamoto, has set the tone for September with just one word, "Sendtember."
Paired with a green square emoji, the post landed on the very first day of the month, a place on the calendar that Bitcoin holders and crypto lovers in general have learned to approach with caution.
The thing is, September has long been Bitcoin’s soft spot, with the median return at -7.87%. Even during 2021’s explosive bull run, the month closed more than 7% down.
The average return is also negative, at -0.64%, a bright contrast to the double-digit green often seen in October, November and December. August’s performance didn’t help sentiment either, with Bitcoin clocking in a -6.43% slide.
'SENDtember'?
Back’s timing, then, is intriguing. Known for his uncompromising stance that all altcoins ultimately sink to zero against BTC, he has never shied away from provocative one-liners.
The “Sendtember” tag is also a counterweight to a meme from past years, "SOLtember," tied to Solana’s seasonal rallies. That joke may resurface in smaller corners of the market, but this year Bitcoin’s price setup has reclaimed center stage.
A single green candle this month would mark a deviation from the usual drag, and if past cycles are any guide, a positive September often sets the stage for a roaring Q4. On average, October has delivered over 15% gains, while November has produced returns north of 40%.
It's interesting that instead of bracing for another statistical dip, Back challenges the market to flip the script. Whether September plays into its reputation or surprises on the upside will be known soon enough — but the debate has already begun.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team