The third quarter of the year has historically been Bitcoin’s weakest-performing on average, and analysts are debating whether its current momentum will continue.
Bitcoin’s recent all-time high of $111,970 has sparked optimism among crypto market participants, but whether that carries through into the third quarter of this year remains uncertain, analysts say.
“The coming weeks will likely determine whether Bitcoinʼs latest breakout was a local high or the prelude to a more aggressive leg higher in Q3,” Bitfinex analysts said in a May 28 markets note.
Bitcoin (BTC) reached new all-time highs of $111,970 on May 22, however, Bitfinex analysts say a continued price increase alone won’t necessarily confirm the uptrend heading into the next quarter.
