BlockBeats news, on September 27, top trader Eugene Ng Ah Sio posted on social media that seasonality is often an important factor in determining animal spirits.

As the end of September approaches, there has never been a situation since the birth of BTC where the market has gone up in September and closed down in October. In the previous 11 years, BTC has closed lower in October only twice, regardless of price action in September.

This data point means nothing on its own, but if enough people interpret it as a buy signal, the self-fulfilling prophecy can spread quickly.

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