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: https://twitter.com/tamilbtc/status/1244323082824601600)

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: https://twitter.com/thetradingmafia/status/1244259312626778112)

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