Hello!

Today Bitcoin Magazine published a tweet with information about the Bitcoin's average returns by month since 2010 to 2024. Basically all the history of Bitcoin price.

In the chart we can see clearly that there are 2 bearish months out of the 12, and 10 bullish months.
The 2 bearish months are August and September and the 3 most bullish moths are October, November and April.

Here you can see the chart:

This basically explains the price movement we suffered in August and September, and give us some optimism about October.
I'm not a huge fan of this kind of average charts, but somehow they give me some relief. There are some patterns that we as humans tend to repeat, and maybe they can affect the Bitcoin price.

October bullish?

Today we finally rebounded from the $53,000 mark of some days ago to now $57,500. We finally have some room of fresh air. It was needed, there were a lot of bearish noise in crypto twitter.
The pessimism is very contagious, and people often forget that we surged from the lows and some correction during the bull market is a healthy thing.

I particularly think that the price is manipulated to stay below certain levels with the objective of accumulating more cheap Bitcoin. But this has the effect of a ball that it's under water, at some point it will go up with a lot of momentum and go beyond the surface. I think that the Bitcoin price will behave similarly in the coming months, maybe the beginning of 2025, but if I had to bet I would bet earlier.

I hope you had a great day!

Posted Using InLeo Alpha