Sell in May and Go Away? A Look At Historic Bitcoin Price Performance in May10.6

The first ever cryptocurrency, Bitcoin, is set to close its third consecutive monthly candle as green, after a record-setting six candles closed in red, taking Bitcoin price to its current bear market low of $3,150.

Because of how far Bitcoin has climbed since those local lows, crypto analysts believe that May is likely to close in the red as buying momentum has begun to show exhaustion, and a larger retrace is overdue. While a red May is certainly possible, past performance in Bitcoin price during the month of May suggests that it is more likely to close green. Does the old stock market adage of “sell in May and go away” make sense for the leading cryptocurrency by market cap?

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