The S&P 500 is up 17% this year, while the price of bitcoin reflects a rise of up to 76%.

A recent article by Charlie Grant published in the Wall Street Journal (WSJ) explains how US stocks have traditionally had a “big year” with the exception of September when the results were negative.

Based on market data collected for the Wall Street benchmark, The SP500 is up 17% year-to-date, including a 3.1% rise in July, reflecting gains across all 11 sectors.

For Grant, if history serves as a guide, “Investor optimism will soon be tested“. Analysis of historical documents, The SP500 notes that it has lost an average of 1.1% in September since 1928.making it the worst month for stocks.

Source: Wall Street Journal

One of the reasons that seems to indicate that the ninth month of the year is the worst month for stocks is the lack of important news, such as corporate earnings, which traditionally boost yields, Jay Hatfield, chief executive of Infrastructure Capital Advisors, said.

Bitcoin shows the best performance in 2023

Similar to SP500, Bitcoin price performance has also been very positive in 2023. With a strong start in the first quarter that saw it reach an annual high of $31,721 per BTC, the asset achieved a positive performance of to 76.9% in the first seven months of the year.

Source: Cryptorank

According to data from Cryptorank, BTC price performance declined in the second quarter of the year following tough regulatory requirements for the sector and major centralized players in the ecosystem such as Binance, Coinbase, and Kraken.

However, despite the above, The price of bitcoin has managed to maintain a percentage lead relative to the SP500.

Source: Cryptorank

However, Unlike the SP500, the price of bitcoin has historically averaged positive in September at 3.07%. However, we will have to wait if the market reacts contrary to the traditional stock market due to the increasingly close correlation between the price of bitcoin and Wall Street stock indices.

The information and/or opinions expressed in this article do not necessarily reflect the views or editorial line of Cointelegraph. The information presented here should not be taken as financial or investment advice. All investments and commercial movement involve risk and it is the responsibility of each individual to conduct proper research before making an investment decision.

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About Ankur Jain

I'm Ankur Jain, and I'm thrilled to be part of the suboonews.xyz team as an editor. I call India my home, and I have a passion for crafting engaging and well-written articles. With a solid background of 7 years in this field, I bring a wealth of experience to my work. It's my pleasure to contribute to the informative and captivating content you'll find on suboonews.xyz. Stay tuned for some exciting stories and news pieces coming your way!

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