A couple of months ago I was looking at a spreadsheet that showed the monthly activity for Bitcoin for the past five years. Volume, value, and trading were just some of the things on this chart and it was eye opening. Basically it showed that each year we see a few major dips in Bitcoin value, and they all appear to happen during the exact same times each year. Is it from holidays and gift giving? Due to people paying their taxes and also using their tax returns for crypto? The way that the media and stock market act and react? There are so many variables that effect the crypto currency markets and exchanges and they all kind of act organic to some degree.
So why is this post focusing on the month of May? Well, besides the fact that my birthday happens during May, it seems like that's historically a lovely month for Bitcoin and the entire cryptocurrency realm. Am I sure about all of this? Of course not! But there is information and data that show that each year there is a double digit percentage gain with Bitcoin during the past few years in the months following April. This year seemed like the longest dip that we have witnessed, but does that mean that we will see the largest gains or longest 'bull' runs?
Justin Sun of TRON (TRX) has announced that there are big things going on with his company at the end of May. Pornhub has announced that they will accept crypto, and we all know that porn has decided the fate of technology with major influence for the past many decades...more and more companies are looking towards crypto and blockchain technology. These add up to some potentially interesting business ventures and technology shifts that we may see in many ways, but one specific way would be in the gain of value of Bitcoin.
Bitcoin is basically the heart of the cryptocurrency world. The other tokens and ICOs and coins and all that rely on Bitcoin to keep beating and pumping to deliver nutrients to the rest of the crypto body....
I think those that are holding some bags are going to be in some good shape as the rest of the year progresses. May should be nice, and the end of the year should be ultra lovely!
Thanks for reading!