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This August, Bitcoin (CRYPTO: BTC) is up a stunning 24%. That’s impressive in and of itself, but even more so when you consider Bitcoin’s historical track record.
This is shaping up to be one of the best Augusts ever for Bitcoin. In fact, you need to go all the way back to 2017 to find a year when Bitcoin has performed this well. Bitcoin investors remember exactly what happened in 2017 — Bitcoin ended the year up a stunning 1,250%. So is a similar type of breakout coming in 2026?
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Bitcoin’s historical performance in August
All told, over the past 14 years, Bitcoin has only turned in positive returns five times in August. The last time Bitcoin turned in a positive performance in August was 2021. Its median return for the month is a loss of 7%.
That’s why Bitcoin investors are absolutely giddy right now. They had all but given up on Bitcoin this month. But a series of recent events, punctuated by a high-level crypto meeting at the White House on Aug. 19, has catalyzed a major Bitcoin run.
Of course, there are still the skeptics. Billionaire Mark Cuban, for example, is not impressed. He sees the recent rally as nothing more than a short squeeze triggered by an impromptu White House meeting. Just as the Trump administration is prone to issuing statements about the price of oil to pressure the market, it now seems quite willing to do the same on Bitcoin.
Positive signs for Bitcoin
That being said, there are some positive signs for Bitcoin. For one, its correlation with gold appears to be increasing. This is leading to a return of the “digital gold” investment thesis, and a revival of the so-called “debasement trade” (in which investors move out of fiat currencies and into precious metals and Bitcoin).
At the same time, there’s now talk that investors could be rotating out of artificial intelligence, worried about inflated valuations across AI-related assets. That could lead them back to crypto. Indeed, inflows appear to be returning to the spot Bitcoin ETFs.
On top of all that, there’s newfound optimism around the Digital Asset Market Clarity Act (“Clarity Act”). This new piece of crypto legislation has the support of both the White House and Wall Street. That’s prompting speculation that Bitcoin could get a huge boost going forward as it becomes an increasingly mainstream financial asset.
Source: finance.yahoo.com