The first month of the year has historically been bearish for bitcoin prices. Maybe funds are thin after the holiday period or other factors are at play. This year may buck that trend though as Q1 starts out in the green.
Bitcoin Price Bearish In January
Historical monthly returns for bitcoin price in January for the past five years have been negative. 2015 was the worst January with a loss of 27% followed by 2018 when BTC dumped 21.5%. Last year bitcoin dropped 10% in the first month of the year and only September has been worse on average over the past nine years.
Last year bitcoin made 85% but still under-performed compared to previous positive years. Five months were bearish and, aside from January, they all came in the second half of the year.
Observing quarterly returns over the past six years shows that Q1 has been bearish for four of those years with only 2017 and 2019 posting gains in the first three months of the year.
It is still early days but Q1 2020 has started in the green as noted by Skew Analytics.
The clock has…