Looking at the seven years data chart shows that the period from June to October has actually a bearish bias.
In other words this data which captures seven years of bitcoin behavior actually shows to us that in the months between June and October is not actually a good period for Bitcoin.
So the month of June doesn't have a good particular good record and actually the period from June to October is not a great period for Bitcoin and the crypto either.
Seasonality may be useful and it's a great information to have but it's actually more like an unreliable friend. It a bit like the friend that tells he's going to be there to make an appointment with you but it doesn't show up or comes really late and nobody like those kind of friends as you probably know.
The problem with seasonality is very much the same, so you have to take it to the pinch of salt, it's not always very reliable.
For example,
Last year some were kind of thinking that the stock markets would repeat their seasonal pattern of being rather weak so that we see a pullback and potential buying opportunity but of course that did not happen and the stock market rather than showing weakness end up being one of the strongest periods of that year.
For Bitcoin, the seasonal pattern of October to December was bullish and correct that corresponds with what we saw on the chart above, October to December has a strong seasonal bias.
You might agree with this that last year was an exceptional year for Bitcoin in that it kind of broke all the rules more or less that end up going by a thousand percent.
Bottomline is this that if the seasonal patterns repeat themselves on Bitcoin and the Stock markets it appears that perhaps the best buying opportunity could be in the month of October.
In other words, the end of September or the month of October, in other words, if one were to completely ignore the charts, it's possible to say that if the seasonal patterns on Bitcoin and stock market were to repeat themselves this year, then one could perhaps just ignore the entire period from June to October just ignore that entire period and just wait for October and then potentially look for buying opportunities at that point and the same thing apply to the stock market as well.
So, having said that though, I don't think that relying on seasonality on it's own, it's a good idea to combine seasonality with the charts, so looking at the chart patterns, looking at the actually markets and looking for potential trade opportunities rather than just relying on seasonality as one piece of data.
OTHER READS
- Santander One Pay Fx App & Ripple : This Could be Really Big
- Iphone Maker Foxconn Going for Blockchain Startup? Rumors or Fact?
- Bittrex Introducing Cryptos and Fiat Money Pairing
- Future Outlook of Cryptocurrencies and What you Should Expect
- The Reason WHY Bitcoin Drop is Continue to Happening and The Cost of Mining 1 BTC Across The World
- Covesting a New Cryptocurrency Exchange Launched in Beta
Crypto is so volatile in which it dont give a hint when it will rise or fall but some whales do pump&dump strategy to maximize their profit. If we only have the leakage on the info on this pump&dump method then we will surely outsmart the rise and fall of btc 😄
Yeah only if we are big players in the market.
.
Hope so :)
The market has been generally bearish from the beginning of the year to now... something tells me it's going to turn bullish way before October arrives. The question is, will it get to surpass last year's highs and attain new ones? Or do we have a longer period to wait before Bitcoin smashes finally past $20,000? Well, guess we'll find out in a few months!
Agree
Sneaky Ninja Attack! You have just been defended with a 1.88% upvote!
I was summoned by @aftabkhan10. I have done their bidding and now I will vanish...
woosh
A portion of the proceeds from your bid was used in support of youarehope and tarc.
Abuse Policy
Rules
How to use Sneaky Ninja
How it works
Victim of grumpycat?
Resteemed by @resteembot! Good Luck!
Check @resteembot's introduction post or the other great posts I already resteemed.
You got a 18.57% upvote from @minnowvotes courtesy of @aftabkhan10!
Coins mentioned in post:
You got a 9.18% upvote from @oceanwhale With 35+ Bonus Upvotes courtesy of @aftabkhan10! Delegate us Steem Power & get 100%daily rewards Payout! 20 SP, 50, 75, 100, 150, 200, 300, 500,1000 or Fill in any amount of SP Earn 1.25 SBD Per 1000 SP | Discord server
Congratulations @aftabkhan10! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!