If you look at old graphs of the behavior of Bitcoin, we can conclude that he is going for a couple of months to go into a lull. Tweet user under the name Cane Island Crypto talks about the trend, which reflects the period of calm bulls from August to September. Such a withdrawal the trader has made after studying the median monthly income of BTC since 2010.
According to reports, from 2010 to 2018 August was the worst month for Bitcoin. And this year the trend is likely to repeat itself.
1) June and July likely to be +
a) could be longest + streak ever
2) August is right around the corner
3) August is typically bad, *AND* coincides with end of streak
4) Most other #cryptos follow $BTC pic.twitter.com/4wHaCmHl8T
— Crypto Cane Island (@nsquaredcrypto) June 19, 2019
At the same time until August BTC can demonstrate new highs 2019. 2010 in April, June and July saw very positive trends. While July has the lowest positive aggregate median profitability of Bitcoin.
Summer weakness of Bitcoin
As history shows, this summer, Bitcoin always has a slight depression. Usually it falls in the period from 6 June to 8 October. According to the trading platform Seasonax, the annual summer slowdown BTC over the past seven years an average of up to 13 percent.
Many, including Trace Mayer and Tour the Demister, it is expected that the decline this year will be small and short-lived, after which the cryptocurrency will recover with full force. According to both experts, Bitcoin can go to the range between 6.5 to 7.5 thousand dollars.
The bullish cross of the MACD is contrary to the historical forecast
Despite the predictions about the summer slowdown, the technical indicators clearly paint a very different picture. Senior analyst Bitcoinist Filb Filb wrote in one of the tweets that Bitcoin is going to demonstrate the third monthly bullish MACD cross. And he will be the strongest.
Bitcoin is about to have its third monthly bullish MACD cross of all time.
Its worked out pretty well in the past. ? pic.twitter.com/5UtrPJPsGL
— fil₿fil₿ (@filbfilb) June 20, 2019
The last MACD cross occurred at the end of 2016 and was completed in late 2017 powerful ballroom when the price of BTC reached almost 20 thousand dollars. Thus, despite a slight decline, to fall, BTC likely preparing for a new long phase of rapid growth.
An imminent bullish cross MACD is the latest indicator that indicates long-term bullish trend largest cryptocurrency. By the way, the optimism in late autumn and the end of the year, to the surprise of many.
For example, Tom Lee of Fundstrat expects Bitcoin to 40 thousand dollars in the coming months. However, he assured, this is only possible in case of breaking the Bitcoin the mark of 10 thousand dollars. Then to begin the FOMO effect among retail investors.
Do you think there is any reason for that Bitcoin continues its tradition and in 2019? If you have any thoughts or predictions about the future price behavior of the largest cryptocurrencies, share them in our cryptodata of hontarov.
Subscribe to our channel in the Telegram. Here soon!