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Will Bitcoin Investors Sell in May and Go Away?
What will happen to the price of bitcoin in May with the upcoming halving?
“Sell in May and go away” as the old trading adage goes. The months of May to October often see investors selling stock holdings and then reinvesting in November. With the upcoming bitcoin halving (and the fact none of us can go anywhere…), will we see investors hodling their bitcoin in the coming months and the price continuing to rise, or a price dip as a result of sales following the halving?
April was an interesting month for the price of bitcoin and the crypto markets as a whole. Trading volumes spiked and cryptocurrency indexes saw gains of more than 30%. Bitcoin rallied by around 20% last week and even broke through the $9,000 mark on 30th April (and then again on 6th May). Although it failed to sustain these levels or break through the $10,00 mark, many investors are becoming more and more bullish on the market. Others think it is too early to say we have moved to a bull market and point to a large transfer of Tether last month as the source of the market move. Around $50 million Tether tokens were transferred to Malta-based Binance last week, just hours before a substantial bitcoin rally.
Given the current economic climate and the performance of other asset classes, bitcoin’s performance last month is even more notable. Gold was…
