As goes January, so goes the year?
You may be familiar with the old market cliché, "As goes January, so goes the year". Since we just started January of 2023, I was curious to see whether that has held true for STEEM in the past. So, I took a look at historical prices from CoinGecko, and here's what I found (barring copy/paste errors).
So, basically, there doesn't seem to be much of a match. For the last three years the January price and the annual price moved in the same direction. For the three years before that, they didn't. Not much to hang our hats on.
OTOH, I was surprised to see that the price went up in January for four out of six years. So, maybe we can hope for that pattern to repeat, here.
As a general rule, I'm extremely skeptical of any sort of "analysis" like this - basically (IMO) it's a coin toss, but it's still fun to look at the numbers.
Coming this summer... "Sell in May and go away." ;-)
While steem rose very well in the first half of 2021, it did not rise enough in the second half. That's why it's way below the price it deserves. Steem is likely to drop below $0.1 in 2023.
I liked 2018, I wonder if the coin will be able to repeat it?)
I think we're about half way to the same phase in the next Bitcoin halving cycle, so maybe we'll see some improvement. Fingers crossed. ;-)