According to an analyst, the worst for Bitcoin could have passed. Q4 might bring bullish momentum back if we look at history.
Investors Have Historically Worst-Off During Q3.
It’s a brand new world post Charles Edwards of Capriole Investments spoke on X about investors going through a bad time with Bitcoin. Below, the analyst’s table breaks down all the returns that the cryptocurrency saw in its entire history.
It is clear that the third quarter In the past, the first quarter of the year was the most difficult time to invest in Bitcoin. The average monthly return has been +5% with a median at -4%.
For perspective, the second-worst performing quarter tends to be Q2, but its average and median returns of +27% and +7%, respectively, are still significantly better than Q3’s.
The opposite end of the spectrum represents Q4, which is the fourth quarter of this year. Bitcoin’s best quarters have been this one, with returns of +89% on average, and +57% median.
“If you are still here, congratulations. You made it through the worst time to be in Bitcoin,”Edwards, in a post regarding BTC trader. “The best lies ahead.”
The cryptocurrency experienced a 57% increase in value during this time period last year. As Q3 is fast coming to an end, we will have to wait and see how BTC performs in Q4.
Checkmate, the on-chain expert, speaks about historical patterns discussed How the distribution of daily prices has appeared across bear The following are some examples of how to get started: bull Markets in a X-post.
The chart that the analyst shared is:
In the graph above, 28% of the bear market days saw the trend increase by greater than +1% while 38% showed a decline. On the other 34% of days, cryptocurrency remained between +1% and -1% from the day before.
Bitcoin experienced a bullish period when 33% days were marked by a price increase of more than +1%. 26% recorded a decrease of more that -1%. In the other 41% of days, it has been stable.
It is fascinating to see how similar the distributions of the bear market and the bull market are.
“Day traders are attempting to beat a three-sided coin, with a third of all days rallying, a third selling-off, and a third doing nothing,”Checkmate.
BTC price
Bitcoin price increased by more than 5 percent in just 24 hours to reach $60,900.
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Source: www.newsbtc.com
