Is “Sell in May” Still a Thing for Bitcoin...

[joniboini]

I think most of them are self-fulfilling prophecies, to be honest, which means if the majority of the market still believes in it, it will happen regardless of the macro/microeconomic situation. Heck, some of them might analyze and try to fit any narrative to support it, even though it is not related at all.

Personally, I'd prepare for any outcome based on the chart. It isn't like you can prepare for both situations weeks before the supposed "destined" date happens. If you're a long-term holder who regularly buys or do DCA, though, I guess it doesn't matter since you'll still buy regardless of market situation. CMIIW.

[LogitechMouse]

Correct me on this one, but the phrase "Sell in May, and go away" mostly applies on traditional markets like the Stock Market. It hasn't been applied on crypto yet but looking at the price movement of Bitcoin during the month of May in history, the total average is around 8% with a median of 9% which means it's still giving positive returns.

Maybe most investors are doing the opposite of what most are saying and while most really are selling based on the phrase, many are buying Bitcoin at a much lower price. Over the years, that phrase will not be a thing anymore because many will learn that instead of doing what most are doing, do the opposite and instead of selling, go buy instead. That might be what's happening right now TBH with Bitcoin that's why we are seeing a huge price spike.

[albon]

Looking at the current market trend, it is clear that Bitcoin is still bullish and is able to maintain its bullish trend for a while, which means more profit for holders. Although people already in profit might have sold or are tempted to sell but I will watch and see how it goes for the time being, as a new all-time high is imminent.

Everyone has new speculations about bitcoin because bitcoin is the only coin from which people can easily make a big profit. Experts are giving different opinions on this bitcoin pump, but i think this is a new plan by investors and this demand for bitcoin could yield good results. Also, after the us communication the china ministry of commerce has indicated openness to discussions. This has led to increased risk taking in various markets, including cryptocurrency. However, there may be another possibility that bitcoin ongoing price rise is part of its traditional downtrend, which is a classic bullish reversal pattern.