Bitcoin has been having a roughly couple weeks, but that may start to change...
In the very near term, bitcoin may have some weakness still in it.
This is mostly due to the risk off nature plaguing just about all asset classes due to the fear surrounding the novel coronavirus.
However, bitcoin is just about to enter its most profitable quarter of the year...
Check it out:
(Source: ~~~ embed:1244323082824601600) twitter metadata:dGFtaWxidGN8fGh0dHBzOi8vdHdpdHRlci5jb20vdGFtaWxidGMvc3RhdHVzLzEyNDQzMjMwODI4MjQ2MDE2MDApfA== ~~~
As you can see, bitcoin tends to perform very well in Q2 each year.
With 5 out of the last 6 years being positive for bitcoin, and the lone negative year was only slightly negative.
A possibility going forward?
With the recent weakness in bitcoin, I think we are likely setting up very well to see yet another positive Q2 for bitcoin.
It's very possible we are gearing up to see something like this take place...
(Source: ~~~ embed:1244259312626778112) twitter metadata:dGhldHJhZGluZ21hZmlhfHxodHRwczovL3R3aXR0ZXIuY29tL3RoZXRyYWRpbmdtYWZpYS9zdGF0dXMvMTI0NDI1OTMxMjYyNjc3ODExMil8 ~~~
Where we see a little bit of dip here just below $6k, and then the march upwards begins.
These historical trends, combined with the halving now just a little over a month away, and we should be in store for some bullish action in the medium term.
To recap...
We could possibly see a slight dip in the immediate future, followed by bullish price action as we move towards the middle and second half of this year.
Price action that may take prices back towards the all time highs.
Stay informed my friends.
-Doc
I also believe that something like what you described above is a foot. I've been watching pretty closely these past few weeks in particular and I have been seeing some signs that a nice jump back up to 10k or higher is possible... That or a bomb back down to 4K lol (although I don't believe in that move as much as the ladder).
There is an unexpected factor about BTC not to fulfill its future price which is this Pandemic, in fect the price should be more higher now but the opposite had happened @jrcornel
Hopefully the pattern will continue!
For how long will the March forward continue. So here is a very short and sad story about my friend who bought clams when it was $0.78 the next day it went down to $0.24 sfor the last week's it has been going down and adding 2 - 3 cents. I have learnt a lesson from that, buy with what you can afford to lose is this right?
I hope so.,..
I hope there is good news behind all this :)
Good job myfriend