cryptomixer BTC Mixer
Cryptocurrency

Q2 has been generated for Bitcoin in the past, tremendous gains – will it be any different this year?

chipmixer btc tumbler

Historically, the Bitcoin price in the second quarter of each year has risen tend to. In the last six years, with the exception of 2018, has increased the price of BTC from April to June, an average of 80 percent.
In 2018, however, was a year in which the Bitcoin price in the second quarter to 8 per cent, has fallen. It is possible that by 2020, is repeated in the light of the gloomy macro Outlook in the US and the slowdown of mood in terms of risk assets, the performance of two years ago is.

The mood is dark: a scenario in which Bitcoin Q2 with a positive result concludes

The short-term Trend of the Bitcoin price is still cloudy because of the volume decline on the futures and Spot markets makes the market for a sudden sell-out prone.
If the Bitcoin price is experiencing a sudden, surrender of a similar decline in some of the lowest support levels and recovered, this means that there is usually that a a long time of accumulation or consolidation phase is likely to follow.
In September 2019, for example, the Bitcoin price of about 10.900 $ has fallen to 7.330$. The following month, the Bitcoin price suddenly rose to over $ 10,000, and then fell to a lower support area at 6.410$. A similar Trend was also observed in the past years, especially in the year 2018.
Prominent investors such as Chris Burniske of Placeholder believe that Bitcoin has not reached technical indicators and structures according to the low point yet.

With the Loading of the Tweets, you accept the privacy policy of Twitter.
More content, download Twitter Tweets to learn more and unlock

This means that the range of 3,600 to 3,800 dollars, the Bitcoin price on may 12. March was not, on the basis of certain data points may have been the low point.
So that can be set against the end of 2020, a strong, extended rally, there must be a solid support area. Often, such a support can be formed only by months-long consolidation in a low price range.
An abrupt increase to high resistance levels can create an environment in which traders and whales aggressive start, profit taking and sell large amounts of Bitcoin on the market.
But even if the Bitcoin price falls in the short term, in the range of 3,000 to 4,000 dollars, so it is very likely that BTC will paint the second quarter with a profit or a minimal loss, as in the year 2018 will be complete.
Much of the weakness in the Trend of the crypto systems in the past month was attributed to the ongoing closeout of the US stock market.
A great progress in the containment of the Coronavirus pandemic, particularly in the heavily affected countries, including the United States and Europe, could lead to a General recovery of markets and the cryptocurrency sector a new impetus.

Historical data in the year 2020 makes little sense

Bitcoin has never been tested during a global economic slowdown, which is adjacent to a world-wide recession – how the global economic crisis of 1929.
Therefore, the year 2020 is different for Bitcoin in this respect significantly from the previous ten years, as the price is influenced the development of BTC in the first place due to geopolitical risks.
The collapsing Oil market represents a unique threat to crypto-currencies, what is the caution of the investors on the crypto-market.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.