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Bitcoin (BTC) Price Closes Q2 with Third Best Result in History: Skew Analysts

News
Tue, 06/30/2020 - 10:39
Vladislav Sopov
The expiring Q2, 2020 has been a period of great hope for Bitcoin (BTC) holders. Bitcoiners have spent it trying to lick the wounds of Black Thursday
Bitcoin (BTC) Price Closes Q2 with Third Best Result in History: Skew Analysts
Cover image via stock.adobe.com
Contents

Analysts from the Skew research team, which addresses on-chain data for top-level cryptocurrencies, indicated that Q2, 2020 was very profitable for Bitcoin (BTC) bulls.

High base effect

According to the numbers revealed by Skew team, Bitcoin (BTC) managed to close quarterly statistics of price performance above its present level only twice.

Skew analysts treat Q2, 2020 as successful
Image via Twitter

Such great quarterly closes enriched traders in Q4, 2017 and Q2, 2019. Also, Bitcoin (BTC) closed Q3, 2019 9% lower than it is closing today. The rest of the results are much weaker.

In terms of price performance, this quarter isn’t among the leaders even with very bright 42.43% gains. To compare, Q2, 2019 and Q2, 2017 brought triple-digit gains to owners of the king coin.

Prior to Q2, 2020, the Bitcoin (BTC) price had declined for three ‘closes’ in a row. Despite the ‘Xi Spike’, all three periods resulted in double-digit losses.

Nothing good happens in Q3

Typically, third quarters are very challenging for the flagship cryptocurrency. With the exception of the historic rally of 2017, it managed to gain 2.9% only once. 

So, ‘Sell in May and go away’, a mantra used by stock trading experts, has worked for the crypto segment as well.


As covered by U.Today Crypto News, Bitcoin (BTC) trader and corporate lawyer Levi Ackerman published a horrible prediction for Q3, 2020.

Related Bitcoin (BTC) Price May Enter Ultra-Bearish Season Soon, Multi-Year Analysis Shows
Related
Bitcoin (BTC) Price May Enter Ultra-Bearish Season Soon, Multi-Year Analysis Shows

He figured out that every Summer in the last 9 years has resulted in at least one double-digit drop in the Bitcoin (BTC) price. Typically, the price of the crypto king collapsed 30-60%. In 2015, Bitcoiners witnessed two declines in a row. However, seasoned analysts suppose it may mostly be a coincidence.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)