Bitcoin Might Be Headed for Turbulence

“Sell in May and go away” applies to Bitcoin, too. [Jeff Clark's Market Minute]( Bitcoin Might Be Headed for Turbulence By Jeff Clark, editor, Market Minute “Sell in May and go away” applies to Bitcoin, too. We applied that well-worn Wall Street cliché to the stock market [a few weeks ago](. Back then, we suggested traders might not want to wait until May to hit the “sell” button. With the S&P 500 trading at over 5200 at the time, it made sense to take some chips off the table in April, before we entered the traditional worst six months of the year. Recommended Link [CRITICAL May 1 Warning]( [image]( Jason Bodner is going public today with [an urgent new warning.]( He believes the most popular investment of 2024 is set to pop… And it could all start just days from now. This has NOTHING to do with A.I. stocks… It has NOTHING to do with crypto currency… And it has NOTHING to do with high-flying tech stocks. Instead, this corner of the market you likely have cash parked in has swelled to nearly $6 trillion. [Click here to watch this warning now.]( -- We can argue the same for Bitcoin. The King of Cryptocurrencies hasn’t been around long enough to establish strong seasonal tendencies. But, if the past three years are any indication, Bitcoin might be headed for some turbulence this summer. Take a look at this chart… [(Click here to expand image)]( The price of Bitcoin peaked in April 2021 at just over $60,000. Four months later, it traded closer to $30,000. In April 2022, the King of Crypto hit $47,000. It was down to $17,000 by October. And, last year, Bitcoin traded above $30,000 in April. It then declined below $25,000 by September. It sure seems as though “Sell in May and go away” is a good trading philosophy for Bitcoin as well as for the stock market. Of course, that’s not always the case. If we go back several years, we can certainly find times when Bitcoin rallied during the summer. In fact, Bitcoin nearly doubled in value during the COVID summer of 2020. But, that was following a rather sharp decline in the asset during the previous six months. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. Indeed, it appears that Bitcoin typically only rallies during the summer if the previous few months were bearish. That’s not the case this year. Bitcoin was trading near $25,000 per coin last October. It closed above $63,000 on Friday. That’s better than a 150% gain in just over six months. But, if history is any sort of a guide, the King of Crypto might be set to give a lot of that back over the next few months. So, just as we suggested with the stock market a few weeks ago, Bitcoin traders might do well to hit the sell button while we’re still in April. Best regards and good trading, [Signature] Jeff Clark Editor, Market Minute [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2024 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](