The price of Bitcoin may soon see some relief!
Since there are no cash flows, dividends, or income statements, bitcoin and cryptocurrencies trade very much on emotion.
And, as you know, emotions can be a fickle thing.
That means that news releases and seasonality trends likely play a bigger role in predicting price movements than they would in traditional equities markets.
For that reason I think it makes a lot of sense to pay attention to seasonal trends when trading bitcoin.
That being said, the months of October and November are great times to own bitcoin.
How great you may be wondering?
Check this chart out:
(Source: ~~~ embed:1050780223032168448) twitter metadata:Q3J5cHRvQlRDX0NocmlzfHxodHRwczovL3R3aXR0ZXIuY29tL0NyeXB0b0JUQ19DaHJpcy9zdGF0dXMvMTA1MDc4MDIyMzAzMjE2ODQ0OCl8 ~~~
Going back to November of 2012, there are 11 data points (months) to go off of, and only 1 of those 11 points end up being red.
That means that since 2012, bitcoin has been green during October or November 91% of the time, with an average return of 29% and 94% respectively.
Were those averages to play out this year, we could see bitcoin have a very nice October and November rally!
What's more...
If you look at those months, not only was bitcoin green in those months, but even the times when bitcoin was green in October, it tending to also still go up in November is well.
Which means gains on top of gains!
In fact, bitcoin has increased in November in every single data point on the chart.
Will history repeat this year?
I have no idea, but I do like our chances of having a very good next few months.
I'm not sure about you, but I am sure ready to start seeing some green on the screen again.
Stay informed my friends.
Image Source:
https://www.etftrends.com/bitcoin-bulls-eye-favorable-seasonality/
Follow me: @jrcornel
I hope it moons!
Such nice Much WoW!
Posted using Partiko Android
Which part specifically?
Lol The consistency of Oct. And Nov. being money makers! That's a nice trend you caught there.😁
Posted using Partiko Android
Hopefully it continues!
Hey @jrcornel, would you mind if I promoted you on my posts every once in a while? I would take a snapshot of your latest post and then make a mention and small comment. It would be among the memes so if you prefer not to be mentioned I understand.
Posted using Partiko Android
Sure, go ahead. Thanks for asking!
Thanks maybe you will gain a few new followers lol
Posted using Partiko Android
Love to see that 461% increase back in 2013. Would be more than happy with the average 93%.
Fingers crossed
You and me both. Heck, I'd take that 29% increase!
Me too
Im too optimistic 😊
It would be nice to see some green for a change.
Fingers crossed but we always need to remember that past results cannot predict future performance... Nice data set to follow though.
Yep, there is that for sure. This is a small data set as well, though it is encouraging to see never the less.
I can't buy more but I can hold the little I got and wait for the bulls to show themselves.
Sounds like a pretty good plan to me. That's what I am doing as well.
I wish i had more money to invest a lot .. :D
You and me both. Now seems like the right time to be buying.
yees, totally man !
Since the January crash is almost a certain thing, the correct way of operation is buying the year end and selling the early year? I'm not too sure.
It looks that way based on past trends. Though if there is no rally to end the year, there may be no crash. However, if we have a significant rally from now till year end I would not be surprised to see selling beginning of the year again like this year. I do think a lot of that was tax related selling and not many people are sitting on gains this year.