BTC - The good news...
Things may seem bad, but there is a silver lining to the current bitcoin prices...
Bitcoin is getting close to ending the quarter in the red.
Something we have been growing accustomed to as of late.
If bitcoin closes March in the red, it would be the 3rd negative quarter in a row for ol bitcoin.
The last time that happened was Q1 of 2015.
So, it's been a while since we have seen this level of prolonged negative quarterly returns.
The good news?
Bad can't last forever right?
We are about to start Q2, and Q2 is historically a very good quarter for bitcoin...
Check this out:
(Source: https://twitter.com/skewdotcom/status/1239628762997837825)
There has only been 1 negative Q2 in the last 6 years.
For those keeping track that is like an 83% chance bitcoin ends the next quarter in the green.
Not a lot of data I know, but still...
The right setup...
Given how bearish things have been, we are very likely due for a bounce.
Given the current setup we have right now (a tanking bitcoin price), I would bet that stat goes to only 1 negative Q2 in the last 7 years.
Either way, we will find out soon enough.
Stay informed my friends.
-Doc
Its just that btc hasnt really been following history these days...
That is a very good point. Though besides breaking that 5 year trend-line, it hasn't really violated too much of its history just yet.
Let's just hope for low as we can get btc! lol I think it hits $1200 support, then bounces up! None of those other q2s had so many black swans!! Every 3 days i hear the same things, btc 5 year trend line gonna mewn, halving going to mewn btc, now it's q2 gonna mewn us too?, sometimes it's better too just accept our fate to get ultra cheap Bitcoin in Q2, and let a sleeping dog lie! lol Good Luck, I hope it mewns, but I like time to stock up too!!
I honestly think the lows are already in...
OK good news for us then, sounds good to me!
Bitcoin has never experienced a global financial recession.
Or a global pandemic.
Simultaneously.
Uncharted territory.
Yes, that is true. Though I don't think that means everything can be thrown out the window.