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July and August are historically bad months for Bitcoin

Interesting facts to know about #Bitcoin, if we compare last 10 years.

We have seen lots of positivity in Bitcoin and crypto market in last two months after a long bear market since December 2017. But we can not ignore the historical data, which explains a lot about the trends and patterns.

According to recent tweet from Cane Island Crypto, who is an American cryptocurrency investor and analyst, July and August are historically bad months for Bitcoin. He has shared the monthly returns given by Bitcoin in last 10 years. He shared the historical month wise data chart since 2010 to May 2019.

As per his observation, three important things came out :

1. July and August are historically bad months for Bitcoin

2. June's momentum carries into July 75% of the time.

3. If June is negative, the following July month has been negative 75% of times. If we got positive returns in June then the same positive returns followed in July as well.

If we leave two years, which are 2015 and 2018, then Bitcoin always followed the same pattern. Now, It will be interesting to see Bitcoin returns in June to get the idea of July and it will also be interesting to see, will it reverse the trend?

Disclaimer & Suggestion : Please always do your due diligence before investing in any cryptocurrency or project. This should not be treated as financial advice.


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