The first month of the year has historically been bearish for bitcoin prices. Maybe funds are thin after the holiday period or other factors are at play. This year may buck that trend though as Q1 starts out in the green.
Bitcoin Price Bearish In January
Historical monthly returns for bitcoin price in January for the past five years have been negative. 2015 was the worst January with a loss of 27% followed by 2018 when BTC dumped 21.5%. Last year bitcoin dropped 10% in the first month of the year and only September has been worse on average over the past nine years.
Last year bitcoin made 85% but still under-performed compared to previous positive years. Five months were bearish and, aside from January, they all came in the second half of the year.
Observing quarterly returns over the past six years shows that Q1 has been bearish for four of those years with only 2017 and 2019 posting gains in the first three months of the year.
It is still early days but Q1 2020 has started in the green as noted by Skew Analytics.
The clock has reset – seasonality for Q1 usually not great but looking green so far! pic.twitter.com/eH3Ann0ThB
— skew (@skewdotcom) January 3, 2020
Aside from the late 2017 bubble, Q2 has seen the best quarterly returns for bitcoin prices over the past six years. Only 2018 saw a negative value for April, May and June.
Last year Q2 was the second-best performing quarter over the past six years according to the Skew data. Returns for the period were over 160%.
The big question is; will history rhyme and yield solid gains for BTC in the first half of 2020?
The year is only four days old but bitcoin price has made a low to the high gain of 8% from $6,850 to $7,400 according to Tradingview.com. Since the beginning of the month, it has climbed 2.5% and has remained to trade sideways for six weeks.
The recent mini pump was likely driven by geopolitical tensions between the US and Iran. Investors flock to safe-haven assets such as gold and oil during times of turmoil. Bitcoin is now among them as the three assets surged at the same time when the news broke.
A Bullish Q1 and Q2?
Considering the geopolitical and economic pressures the world is going through at the moment the outlook for bitcoin in Q1 is bullish. It has held major support on long time frames and has not capitulated down to $5k (yet).
With a halving approaching the momentum could mount leading to another triple-figure Q2 and an even better year all round.
Of course, this is all just speculation but with an asset that is only a decade old, past performance is all we have to go on.
Will bitcoin end 2020’s first 6 months in the green? Add your comments below.
Images via Bitcoinist Media Library, Twitter: @skewdotcom The post appeared first on Bitcoinist.com. origin »
A well-known market analyst believes Bitcoin is on track to reach new highs this year. Tom Lee, the co-founder of Fundstrat Global Advisors, expects the cryptocurrency to do “better than $150,000” by the end of 2025.
In an interview, Anthony Scaramucci predicted that Bitcoin could reach $200,000 this year, driven by potential U. S. moves toward a strategic crypto reserve, growing global adoption, and increased institutional interest.
For the fourth year in a row, MicroStrategy Executive Chairman Michael Saylor shared his company’s Bitcoin playbook with Bitcoin-curious Fortune 1000 firms.
Analysts at Matrixport believe that Bitcoin can reach $60,000 by April 2024 and double that price mark by the end of that year. The year of 2023 was the first bull year in a series of cycles, which usually come…
Bitcoin (BTC) price has been one of the best-performing financial assets this year. The coin surged to a high of $35,978 on Thursday, a 132% increase from the lowest point in December last year. It has outperformed other financial assets like gold, bonds, equities, and commodities.
In a recent comprehensive report by Capriole Investments, Charles Edwards presents a compelling case for why 2024 will be a pivotal year for Bitcoin, potentially offering the highest returns in its current four-year cycle.
Bitcoin is already up roughly 80% for the year but the Chief Executive of Nexo is convinced that it still has more room to the upside. Bitcoin could hit $50,000 by year-end In a recent interview with CNBC, Antoni Trenchev said it was conceivable for the world’s largest cryptocurrency to end the year between $40,000 […]
The post Pro says Bitcoin will hit $50K this year: could Chancer token rally too? appeared first on Invezz.
UK bank Standard Chartered predicts Bitcoin miners could start hoarding after Bitcoin hits the bank's $50,000 prediction this year.
The post Bitcoin Could Hit $50,000 This Year and $120,000 Next Year, Says Standard Chartered appeared first on BeInCrypto.
Quick Take Among Bitcoin miners, the most remarkable performance this year has come from Core Scientific, whose value has impressively soared by over 1000%. Notably, this substantial upswing came on the heels of the company filing for bankruptcy and laying out reorganization plans just two weeks prior.
Cryptocurrencies outperformed key financial assets like stocks and commodities in the first half of the year. Bitcoin, the biggest crypto in the world, more than doubled from its lowest point in December.
Quick Take This year has marked a noteworthy period for various financial assets, with several outperforming expectations amidst an atmosphere of bearish sentiment. Bitcoin has emerged as a standout winner in this regard, reporting a remarkable 84% increase over the first half of the year.
In January of this year, Bitcoin broke above its 200-day MA for the first time since the end of 2021. This was a significant milestone for the cryptocurrency, as it had not seen such a signal in over a year.
Analysis from the crypto financial services platform Matrixport uncovered a Bitcoin Lunar New Year trading strategy that has worked every year since 2015.
The post Year of the Rabbit could signal a Bitcoin bull run appeared first on CryptoSlate.
The general cryptocurrency market has been through difficult times since last year November, after it set all-time high records. Notably, Bitcoin traded at $68,789 before falling to below $20,000 last month.
Bitcoin miners are celebrating the third break this year as their computational power increased due to a decrease of 1. 26% in difficulty. This means that they will be able to mine more Bitcoins, and with it comes an endless supply of new coins.
Bitcoin recorded its largest single-day pump in a year as the Russian ruble tanked 20% in its value against the dollar amidst worldwide economic sanctions imposed in the country after their attack on Ukraine.
The past year has had people talking about crypto like never before. Earlier this year, Cathie Wood, CEO of Ark Invest redefined her company's portfolio by exploring Bitcoin and Ethereum in a 60-40 spThe post Here's the guide to how Bitcoin will shape investors' portfolios next year appeared first on AMBCrypto.
In a recent tweet by CryptoRank, just 6.3% of the total Bitcoin supply, or 1.3 million BTC, is held on cryptocurrency exchanges. The decreasing supply is not news though, since the Bitcoin halving in The post Analyst expects Bitcoin to cross $54,000 this year, but next year belongs to... appeared first on AMBCrypto.
American theater chain giant AMC announced earlier in the year that its theaters would begin accepting bitcoin payments by the end of 2021. The announcement was made in an earnings report in August.
The long recovery Bitcoin has been showing in the past week is the longest consecutive recovery it has seen this year; the recent analytics data shows why it is happening
Bitcoin has had a miserable couple of months since hitting a new all-time high this year. The asset recently broke the $30K resistance level last week and fell down to $28K. Before promptly recovering back up over $30K and trending upwards towards $34K.
Venture Capitalist Tim Draper has made a bullish Bitcoin prediction stating that the leading digital asset could increase 5x by the end of next year. $250,000, a price level that will require Bitcoin bulls to remain on standby for most of this year and next year is precisely what the Billionaire forecasted. “$250k by end […]
2020 has been a pretty dismal year for the human race. It’s a year of the unprecedented, a year seemingly plucked from the pages of a Philip K. Dick novel. You could be mistaken for thinking that we’re living through the title sequence of some post-apocalyptic horror film. But it hasn’t all been bad news. […]
Since the new year, Bitcoin has reached many milestones. With each year, Bitcoin continues to outperform and this year is one of the few others in which Bitcoin has been breaking global records, almost daily.
Bitcoin, the largest cryptocurrency, has been and continues to climb like crazy since late December last year up to now. In fact, it has increased by almost +327% in one year, according to Messari.
Bitcoin is trading at just below $30,000 per coin at the start of 2021, and all signs point to the coming year being the cryptocurrency’s best year yet. FOMO has only just begun, and is so strong currently, any corrections have been minimal and bought up in days.
Bitcoin has had an explosive breakout year as a maturing financial asset,. The cryptocurrency is finally being considered by institutional investors for the first time, during a year that will go down in history for unprecedented money printing.
With Bitcoin price well over $20,000, chances are the cryptocurrency will be a topic during holiday dinner table discussions once again this year. Investors in “digital gold” in 2020 are especially merry right now, after a 500% rally from yearly lows.
So, bitcoin set a new all-time high, and Sony’s PS5 is finally out and has become the most asked for a gift this Christmas year. And therefore, in an effort to bring some early holiday cheer to the world, StormGain has revealed its latest promotion, which includes the chance to make all of your Christmas and New Year wishes come true.
2017, the year of the historic bull run, was also the year of extremes. On the contrary, 2018 was the year of the big drop while 2019 was the year when the brave HODLed and weak hands sold Bitcoin.
Bitcoin posted modest gains on Thursday as Democratic leaders signaled to reach an agreement with Republicans to pass the second round of COVID-19 stimulus by year’s end. House Speaker Nanci Pelosi (D-Califonia) said on Wednesday that a new bipartisan $908 billion relief package should serve as the basis of their months of negotiations with White […]
“It's been a disappointing year for Bitcoin,” writes Bloomberg editor, Joe Weisenthal in his Monday newsletter. 2020 continues to be a tragic year, the world struggling with the coronavirus pandemic, its economic impact, and protests worldwide.
For the world's top two cryptocurrencies Bitcoin and Ethereum, this year has been quite significant. While Bitcoin underwent its third halving, Ethereum is soon to transition to ETH 2.0 that will moveThe post Ethereum-dominated crypto market in store this year appeared first on AMBCrypto.
In comparison to the previous year, 2020 has been quite an eventful year. While at the start of the year most observers in the cryptocurrency ecosystem anticipated just Bitcoin's halving event. HoweveThe post Is Bitcoin the 'new-species' of money designed to rein in state control on finance? appeared first on AMBCrypto.
Bitcoin's performance has been widely discussed in the new year with a special focus on its upcoming halving. However, the second-largest cryptocurrency in the market, Ethereum, has been outperformingThe post Ethereum's price against Bitcoin taps this year's ATH appeared first on AMBCrypto.
Since the start of this year, Bitcoin (BTC) has seen its price explode higher; year to date, the leading cryptocurrency has posted a gain of nearly 30%, surging from the $7,000s to the $9,250 in a few weeks’ time.
Markets are cyclical and history repeats itself, and although Bitcoin is a very different kind of asset and the crypto market is anything but atypical, the same rules apply. According to historical data, Bitcoin either sets its high for the year or low for the year in January each year, suggesting that $6,800 was the... The post appeared first on NewsBTC.
Despite an overall bearish sentiment and high price volatility, the world’s largest cryptocurrency has had quite a successful year. From transaction count and volume, to hash rate and number of addresses, Bitcoin’s every major metric has reached its all-time-high.
Just over a year ago, the price of bitcoin registered an average low of $3,120 across many regulated and unregulated cryptocurrency exchanges. A year before that, the asset was trading at its Everest value of $20,000.
