Bitcoin seasonality is a Myth!
Seasonal patterns suggested some months ago that Bitcoin might see strength in the period of October to December - a pattern observed in previous years. Sadly, this pattern did not repeat this year. We look at some important lessons from this.
Ethereum
The technically loved crypto which once was nominated to rule the future of blockchain technology, now seems to be happy with its third seed in crypto market cap.
Chart analysis for ethereum shows the bear's win is crystal clear, especially with the support of all the key indicators from the one-day chart. Nonetheless, the bull has managed to gain the attention of Parabolic SAR and Chaikin Money Flow from the one-hour chart.
I don't see any strong long term momentum right now, to consider ETH bullish against BTC or USD, but I can see sideway fluctuations in ETH/BTC potentially proper for some gains, as I explained couple of posts before.
Against USD
The ultimate hope I can have is to get back to below levels in a 6 months window, if the bulls get back to the market:
$182.9
$200.8
$229.3
the bottom line I can see is 88$ and 44$ which I will be in with all I have if we reach them!
Seasonality doesn't mean all years are the same. The mean (the average) doesn't mean there are no differences and huge fluctuations.
If the same pattern were repeating itself, all would buy and sell at the same time, but wait... somebody has to be on the other side, too. There can't be a clear and strong seasonality because in this case all wanted to take advantage of it. And the anomaly disappears or turns negative with the transactions of the crowd.
There are seasonality in stock markets, but not so big to offer an arbitrage possibility. I suppose the same will happen in crypto markets on long term.
Those are some pretty depressing stats for some of us who have been desperately hoping for another crazy bull run this year
Posted using Partiko iOS
sad but true!
and more importantly sad but not the end of the world!
@honarparver thanks for sharing this.
All this challenges I believe is due to the majority are not investing but rather running from the market. Although this is a good time to purchase.
i am definitely with you. buy in proper level and have patience
What happened to crypto market now looks like a cleansing of just copy of another blockchain no realworld use. This BCH hash war proves that there is centralization. Hope this copy/fork BCHABC and BCHSV will be banished also.
and it will take a while to resume the market cap... we have to be realistic
there are no season for crypto market. either go bull all the way or drop till the bottom until you cant see the light.
there were thoughts about Nov, btw it proved wrong
But December isn't even here yet?
these are just my thoughts... to plan based on for my own money. ofcourse I love to see a juicy December, but it seems unlikely
Prediction is like convincing. believe or not depending on each analysis. what is clear is that crypto conditions are very sad, holding up until 2019 became erratic.
don't look at others statements as predictions. let yourself hear their expression of the market and do what you believe in
I still have hope for December lol. *pray
honestly I see this very less of probability
Crypto withdrawals from Cryptonoras wallet are sent to your external wallet within 12 hours from the time of your withdrawal.
Cryptonoras - Crypto mining, it is the best Crypto mining platform in the market!
what is this? commercial?!! 👎
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.