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Bitcoin’s Seasonality for 2024

The Bitcoin halving has historically resulted in a strong parabolic rally for Bitcoin and the crypto market. I personally have concerns about how Bitcoin miners will perform after the halving due to Bitcoin’s scarcity. I think Bitcoin and Altcoins could perform well over the next few months.

Using 11 years of Bitcoin data, TrendSpider seasonality index suggests that April, May, July, October, and November are the most bullish months to monitor. So far April has been red as Bitcoin is a few days away from the halving.

The two worst performing months to consider are August and September, as these are historically bearish months for BTC. In the past 11 years, BTC has been bullish in August only 4 times (36%). Similarly, BTC only had 3 green September monthly candles in the past 11 years (27%). It will be interesting to see if BTC peaks in July then dips around August and September.

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