With the high prices of Bitcoin and Altcoin, should you sell in May and go away?

Bitcoin and Altcoin prices continued to recover, on the right path to the best weekly closure since January.

Bitcoin (BTCThe price jumped for three consecutive weeks and is now 28 % higher than its lowest level this month.

Most of Altcoins jumped, where the best weekly performance artists are Trump (Trump), Di (but), DogwFhat (wif), Fartcoin (Fartcoin), And stacks (STX). All of these symbols have jumped by more than 50 % in the past seven days.

It wore the origins fraught with other risks. The S&P 500, NASDAQ 100 and Dow Jones indicators have increased by more than 10 % of their lowest monthly levels.

The stocks and encryption prices jumped, as Donald Trump indicated that he was ready to reach a The commercial deal. He also ruled out the shooting of Jerome Powell, the head of the Federal Reserve, who repeated that interest rates would not be reduced until the inflation towards the target range decreased by 2 %.

Bitcoin also appeared as a safe haven with high risk. While her performance is late in gold, it still outperforms American stocks.

Is it safe to sell Bitcoin and Altcoins in May and went away?

“Selling in May and going away” is a common phrase in the financial markets. This depends on the theory that stocks are often less than performance in May and during the summer months, where investors travel and move away from the market.

Melomic data indicates that the average Bitcoin returns in May is 7.95 %, which is less than two numbers in the previous three months. As shown below, the second and third quarters is historically the worst performance periods for Bitcoin.

Analysts have a mixed look for Bitcoin and other altcoins with continued recovery. In the note, Nansen warned The ongoing assembly may be due to the fear of losing it, which usually occurs before a local summit.

Ki Jong Go, founder of Cryptoquant, indicated that Bitcoin has not yet erupted. Instead, it is in a wide range and can resume the declining direction unless you jump over $ 100,000.

Other analysts are optimistic that Bitcoin can continue to rise, noting the expansion of the M2 Money supply and increased institutional demand. In fact, the investment funds circulating in Bitcoin continued to attract flows, while companies such as Cantor Fitzgerland and SoftBank have started investing in Bitcoin.

Technical analysis of Bitcoin prices indicates an increase

Technical analysis indicates that it may not be perfect “selling Bitcoin and Altcoins in May and exit.” The weekly graph shows that Bitcoin has formed an upward channel and was recently re -tested.

BTC remained higher than the main support at $ 68,845, which represents the upper side of the previous style of the cup and the handle style. It also remained higher than the moving average for 100 days, indicating that the bulls are still in control.

Therefore, the currency is likely to continue to rise and perhaps re -test it at all at $ 109,285. The step above this level will indicate more gains, and may reach $ 125,000.

The main catalyst for this will be to progress in commercial deals or negotiations with countries such as China, South Korea, the European Union and Japan. These federal reserve deals can push to start lower interest rates, which are likely to enhance Bitcoin, Altcoins and stock higher.