Bitcoin enters the historically strong Q2 on a positive note

Bitcoin remains a highly volatile asset even
now, over 11 years after its launch. There is still no accurate way to predict
its performance and say what the price might do. With that said, Bitcoin does
have 11 years behind it, which is 11 years of data available for analysis.

The tables turn for BTC, while
other markets continue to drop

Judging by the past data, the Q2 has always
been rather beneficial for the coin. Now that BTC is entering the second
quarter of 2020, many are confident that the coin will stay true to its
tradition and perform well. Some proof of this is already available. For
example, BTC is currently seeing gains, while Wall Street continues to
experience losses.

This indicates that the correlation between the stock and crypto markets is gone. At the time of writing, the BTC price sits at $6.674.32, after growing by 5.62% in the last 24 hours. Its market cap sits at $122.15 billion, while its daily volume is at $41.11 billion. Even the world’s most traded token, stablecoin Tether (USDT), currently has a volume under $50B.

In other words, BTC has started the new
quarter on a positive note, even though it closed Q1 with a 10% loss, as
reported by CoinDesk’s Bitcoin Price Index.

Interestingly enough, the US equities started
the new quarter on a much weaker note. The S&P 500 is in a 4% drop, as
investors avoid returning due to the US’ prolonged coronavirus-caused shutdown. At the
same time, Bitcoin is accumulating gains, as traditional markets currently
carry more risk than cryptocurrency.

The crypto supporters and believers seem
pleased with the positive turnaround. Especially after the coin followed the
traditional markets in a downward spiral since mid-March.

Will history repeat itself in
2020?

As mentioned, Bitcoin’s second quarter has
usually been one of its strongest. This was the case in six of the last eight
years. While sellers managed to overtake the buyers in 2013 and 2018, even
then, the coin’s losses were in single digits.

Last year, Bitcoin had a 161% rally which
ended on June 20th, while starting on April 1st. That was its third-biggest
quarterly gain ever, at least so far. Right now, analysts are still discussing
the reasons for Bitcoin’s positive performance in the first days of Q2. Many
believe that the recent money-printing moves have caused investors to seek out
different assets.

Cryptocurrency emerged as the most available
one. Also, the pending block rewards halving already promises a price surge.