Image default
Blockchain

Bitcoin Seasonality Provides Hope for Bitcoin Bulls – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst on the publicly listed digital asset dealer GlobalBlock (TSXV:BLOK).

The crypto market has dropped beneath $1 trillion once more this week, as Bitcoin neared in direction of the native backside of $17,600. On chain analytics have additionally demonstrated a bearish sentiment amongst market contributors.

An instance of that is the Bitcoin adjusted SOPR chart, provided by Glassnode, which reveals that buyers are cashing out throughout bear market rallies. This indicator means that buyers are promoting to “get their money back” at their price foundation, as there’s a big resistance at 1, which is the breakeven threshold. I feel the mainstream narrative of a recession and excessive inflation has brought about worry amongst market contributors.

The seasonality of Bitcoin’s month-to-month price change is congruent with September being a unfavorable month, proven by the chart above, as 7 of the previous 9 Septembers have been pink.

However, Bitcoin is already down by over 5% this month and 7 of the previous Octobers have been inexperienced. Therefore, if Bitcoin’s seasonality over the previous 9 years is something to go by, then this worry may very well be leading to a terrific shopping for alternative.

Related posts

Hong Kong Firm Prima Asia to Launch Blockchain Payment in APAC

Crypto Advisor

Best Gainers and Top Losers for the Week: XMR, MINA, AXS, WAVES

Crypto Advisor

Here’s the Best-Case Scenario for Ethereum (ETH), According to Its Co-Creator

Crypto Advisor

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

bitcoin
Bitcoin (BTC) $ 19,118.69 0.38%
ethereum
Ethereum (ETH) $ 1,311.33 0.89%
tether
Tether (USDT) $ 1.00 0.19%
usd-coin
USD Coin (USDC) $ 1.00 0.29%
bnb
BNB (BNB) $ 274.18 1.08%
binance-usd
Binance USD (BUSD) $ 1.00 0.13%
cardano
Cardano (ADA) $ 0.445666 2.60%
xrp
XRP (XRP) $ 0.470001 3.99%
polkadot
Polkadot (DOT) $ 6.35 0.96%
solana
Solana (SOL) $ 32.88 2.28%
shiba-inu
Shiba Inu (SHIB) $ 0.000011 3.21%
dogecoin
Dogecoin (DOGE) $ 0.061264 2.53%
staked-ether
Lido Staked Ether (STETH) $ 1,307.77 0.58%
matic-network
Polygon (MATIC) $ 0.746496 1.61%
tron
TRON (TRX) $ 0.059632 0.63%
dai
Dai (DAI) $ 1.00 0.28%
avalanche-2
Avalanche (AVAX) $ 17.31 2.54%
ethereum-classic
Ethereum Classic (ETC) $ 28.23 2.83%
leo-token
LEO Token (LEO) $ 4.10 5.15%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 19,134.78 0.53%
uniswap
Uniswap (UNI) $ 5.72 2.88%
litecoin
Litecoin (LTC) $ 53.29 1.10%
cosmos
Cosmos Hub (ATOM) $ 14.30 3.31%
okb
OKB (OKB) $ 15.23 0.98%
ftx-token
FTX (FTT) $ 23.82 0.05%
terra-luna
Terra Luna Classic (LUNC) $ 0.000267 18.90%
near
NEAR Protocol (NEAR) $ 3.67 2.23%
chainlink
Chainlink (LINK) $ 7.70 3.11%
crypto-com-chain
Cronos (CRO) $ 0.113303 3.15%
monero
Monero (XMR) $ 143.49 0.23%
stellar
Stellar (XLM) $ 0.115615 2.88%
bitcoin-cash
Bitcoin Cash (BCH) $ 116.49 0.37%
algorand
Algorand (ALGO) $ 0.36777 5.73%
flow
Flow (FLOW) $ 1.63 3.07%
vechain
VeChain (VET) $ 0.022595 1.97%
eos
EOS (EOS) $ 1.18 1.89%
internet-computer
Internet Computer (ICP) $ 6.00 0.04%
filecoin
Filecoin (FIL) $ 5.67 1.25%
chain-2
Chain (XCN) $ 0.074803 2.49%
frax
Frax (FRAX) $ 1.00 0.30%
hedera-hashgraph
Hedera (HBAR) $ 0.059967 2.45%
decentraland
Decentraland (MANA) $ 0.697932 1.88%
apecoin
ApeCoin (APE) $ 5.58 2.06%
the-sandbox
The Sandbox (SAND) $ 0.853133 4.02%
tezos
Tezos (XTZ) $ 1.46 2.35%
quant-network
Quant (QNT) $ 118.65 2.50%
axie-infinity
Axie Infinity (AXS) $ 12.39 3.29%
aave
Aave (AAVE) $ 74.70 2.23%
lido-dao
Lido DAO (LDO) $ 1.60 5.55%
elrond-erd-2
Elrond (EGLD) $ 46.42 3.83%
theta-token
Theta Network (THETA) $ 1.08 2.75%
true-usd
TrueUSD (TUSD) $ 1.00 0.32%
chiliz
Chiliz (CHZ) $ 0.251494 5.82%
bitcoin-sv
Bitcoin SV (BSV) $ 51.37 4.13%
compound-usd-coin
cUSDC (CUSDC) $ 0.022697 0.27%
paxos-standard
Pax Dollar (USDP) $ 1.00 0.31%
kucoin-shares
KuCoin (KCS) $ 8.94 0.59%
bittorrent
BitTorrent (BTT) $ 0.00000078426513 0.74%
ecash
eCash (XEC) $ 0.00004 2.02%
the-graph
The Graph (GRT) $ 0.100994 6.62%
iota
IOTA (MIOTA) $ 0.300857 7.59%
zcash
Zcash (ZEC) $ 57.54 3.20%
huobi-btc
Huobi BTC (HBTC) $ 19,110.23 0.46%
usdd
USDD (USDD) $ 1.00 0.14%
huobi-token
Huobi (HT) $ 4.43 1.62%
evmos
Evmos (EVMOS) $ 1.95 6.47%
havven
Synthetix Network (SNX) $ 2.29 5.53%
cdai
cDAI (CDAI) $ 0.022119 0.24%
maker
Maker (MKR) $ 690.35 0.45%
bitdao
BitDAO (BIT) $ 0.477435 2.24%
klay-token
Klaytn (KLAY) $ 0.200728 1.46%
neutrino
Neutrino USD (USDN) $ 0.951498 0.65%
fantom
Fantom (FTM) $ 0.227189 1.03%
compound-ether
cETH (CETH) $ 26.33 0.90%
neo
NEO (NEO) $ 8.28 2.41%
helium
Helium (HNT) $ 4.61 2.96%
gatechain-token
Gate (GT) $ 4.22 0.20%
defichain
DeFiChain (DFI) $ 0.774407 2.60%
radix
Radix (XRD) $ 0.059651 0.65%
celsius-degree-token
Celsius Network (CEL) $ 1.45 4.86%
pax-gold
PAX Gold (PAXG) $ 1,638.67 0.24%
pancakeswap-token
PancakeSwap (CAKE) $ 4.59 0.69%
thorchain
THORChain (RUNE) $ 1.59 2.80%
osmosis
Osmosis (OSMO) $ 1.20 0.27%
zilliqa
Zilliqa (ZIL) $ 0.031383 3.25%
enjincoin
Enjin Coin (ENJ) $ 0.462561 2.00%
nexo
NEXO (NEXO) $ 0.925193 2.19%
arweave
Arweave (AR) $ 9.48 3.63%