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

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Tue, 06/30/2020 - 10:39
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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
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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.

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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.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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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.)