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K33 Research analyst: Q3 is usually the weakest period for BTC returns
BlockBeats news, on July 10, K33 Research senior analyst Vetle Lunde pointed out on Tuesday that seasonal trends are of no help to Bitcoin, and the third quarter is usually the weakest period for returns. He added that the seasonal weakness coincides with the sale of seized assets in the German state of Saxony and the ongoing Mt. Gox repayment distribution, putting pressure on prices. According to K33 Research’s estimates, the market will absorb the sale of 75,000 to 118,000 BTC from Saxony and Mt. Gox clients throughout the summer, valued at $4.3 billion to $6.8 billion at current prices. ‘We expect these fund flows to be a burden on Bitcoin’s performance in the coming months, and market fluctuations will continue until October,’ Lunde said. (CoinDesk)