Hi folks,
It will probably not be a very popular thread but I'll go for it.
We noticed several times now that Bitcoin has a strange tendancy to go down in January, pretty much every year. It was definitely the case in 2018 (happy new year by the way).
Not necessarily. When I look at the monthly candle chart, I see that January was a green candle in 2011, 2012, 2013, and 2014. The last several years have been red candles, but it might just be a coincidence.
I know many don't want to hear that but just curious, it could very well happen again. Some say this is due to Chinese new year (people cashing out to buy again in March or April). I am not sure but I am curious if it happens again this year, we could go back to a price near $3000 per coin.
Just some thoughts, perhaps some of you are anticipating such trend again.
This is obviously a bear market, so regardless of any fundamental reasons we should be prepared for another test of $3K and maybe lower. In the mid term, I'm looking for this bull trap to end higher ($5K-$5,500 is my guess) but I have a feeling we'll get a taste of the $2,000s before the bottom is in.