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2024: BTC is up 7% and records the best September in history

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4 days ago

October 1, 2024

Stephen Douglas

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Bitcoin Today 10/01/2024: BTC is up 7% and records the best September in history
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After the strong fall of the previous day, Bitcoin (BTC) registered a slight increase of 0.6% this Tuesday (01) and even surpassed US$ 64,000 for a few moments. According to CoinGecko, the cryptocurrency opened the day worth US$63,817.

In the month of September, BTC registered a total appreciation of 7.29% according to Coinglass, registering the second consecutive annual appreciation for the month. Furthermore, 2024 recorded the best September in BTC history, surpassing the 6.04% seen in 2016.

On the other hand, the cryptocurrency has already opened October with an increase of 1.06%, and the month has a largely positive history. Since 2019, BTC has always closed October on a high, and in 2020 and 2023 this rise extended throughout the entire fourth quarter. Therefore, the market expects there to be a new upward rally and for BTC to reach its all-time high again.

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This increase had a positive impact on the entire Top 10, with highlights being the 2.1% gains for Solana (SOL) and 1.5% for Ethereum (ETH). Memecoins once again dominated the Top 100, highlighted by the rises of BONK (8.3%), WIF (9.5) and POPCAT (11.4%).

Trader profits almost 200% from Bitcoin’s rise

Bitcoin’s strong rise in September saw the cryptocurrency reach peak prices of US$66,000. And even with returns below 10%, many investors achieved much more significant gains. This is how an experienced trader transformed a fortune of US$6.2 million into US$17.5 million.

After BTC appreciated in value, the trader, who was trading in the diamond market, decided to bet on the cryptocurrency, and it worked. According to Lookonchain’s post, this cryptocurrency trader recently sold 265.89 $BTC, worth $17.5 million.

It’s a huge sale, leaving netizens impressed with the trader’s ownership, but the best part is that the cryptocurrency trader has been holding onto these Bitcoins since 2022. He bought these tokens two years ago on Bitfinex, paying $6.2 million in total .

With the recent sale, the trader made a profit of US$11.28 million, which means that the operation resulted in a profit of 181% compared to the initial investment. A return that shows the benefits of having a long-term vision when investing in BTC.

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Currently, Bitcoin is the largest cryptocurrency, covering almost half of the total value of this segment. More importantly, BTC remains the main appreciation bet among large investors. Therefore, many expect the cryptocurrency to reach US$100,000 in the current bull cycle.