April Bitcoin seasonals
It’s been a tough year for crypto bulls so far. In the first three months of 2018, Bitcoin is down about 45%. It’s trading at $7910 today from an all time high of $19,500 on December 18.
The regulatory onslaught has been non-stop this year but there is a small slice of good news on the calendar: April has been the best month, on average for Bitcoin. Since 2011, the average gain has been almost 49% including 21% last year.
The shine comes off that when you realize that it rose 269% way back in thin trading April 2011. The rally that month was to $2.96 from $0.75.
If we take just the past five years, then April is a middle-of-the-road month.
So while seasonals can be solid technical tool at times, I wouldn’t weigh them heavily in any Bitcoin trading equation.