Re: Could this be a frequent end of year package, a window to buy Bitcoin or Not?
I expected normally that during the periods of end of year's festivity there should be a rise in Bitcoin price that is sustained for let's say 5 months after with little fluctuations but it's not been so. My point is why does this happen as we draw to the close of year so far?
What's your take on my observation? Have you noticed this too?
What could be the reason behind it?
Your response is appreciated!
What's your take on my observation? Have you noticed this too?
What could be the reason behind it?
Your response is appreciated!
It is not usually like that, there are some end of the years that are probably next to halving year just like this year 2023 and they are end to a year after halving period like end of 2021. And some are between the halving period just like 2022.
Now let’s take a look at that of 2021, the halving period which happened in 2020 caused the bull run to happen in 2021 where last quarter of 2021 saw bitcoin hit a record ATH of $69k on Nov 10.
Then that of 2022 was a little different because the entire year was filled with bad news around cryptocurrency as some Altcoins eat the dust and some exchanges faced went down which caused it to be in state of bearish period entirely
So looking at both years ending on different trend we can say that they are not always a bad end to each year but the market and economic situations sometimes are the result of each years ending price and not necessarily a regular low price at each year ending.
Some of the years after halving have always been bullish and some before it are filled with bearish period. So each year ending is quite different.