Will Bitcoin Price Rally in Q1 and Q2 2020?

The clock has reset – seasonality for Q1 usually not great but looking green so far! pic.twitter.com/eH3Ann0ThB — skew (@skewdotcom) January 3, 2020

Aside from the late 2017 bubble, Q2 has seen the best quarterly returns for bitcoin prices over the past six years. Only 2018 saw a negative value for April, May and June. Last year Q2 was the second-best performing quarter over the past six years according to the Skew data. Returns for the period were over 160%. The big question is; will history rhyme and yield solid gains for BTC in the first half of 2020? The year is only four days old but bitcoin price has made a low to the high gain of 8% from $6,850 to $7,400 according to Tradingview.com. Since the beginning of the month, it has climbed 2.5% and has remained to trade sideways for six weeks. The recent mini pump was likely driven by geopolitical tensions between the US and Iran. Investors flock to safe-haven assets such as gold and oil during times of turmoil. Bitcoin is now among them as the three assets surged at the same time when the news broke. A Bullish Q1 and Q2? Considering the geopolitical and economic pressures the world is going through at the moment the outlook for bitcoin in Q1 is bullish. It has held major support on long time frames and has not capitulated down to $5k (yet). With a halving approaching the momentum could mount leading to another triple-figure Q2 and an even better year all round. Of course, this is all just speculation but with an asset that is only a decade old, past performance is all we have to go on. Will bitcoin end 2020’s first 6 months in the green? Add your comments below.

Images via Bitcoinist Media Library, Twitter: @skewdotcom The post appeared first on Bitcoinist.com.

source: https://bitcoinist.com/will-bitcoin-price-rally-in-q1-q2-2020/

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