Score 7.6 (out of 10): Bitcoin poised to seasonally rally by +14.2% during the next 90 days.

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What’s Going On Here?

The world’s largest bitcoin ATM firm Bitcoin Depot is to go public on the NASDAQ. The firm is set to list on the Nasdaq under ticker symbol ‘BTM’ by Q1 2023 through an $855 million SPAC deal.

Why Now?

Bitcoin indicates an interesting 90 days seasonal set up. During similar occasions, Bitcoin token had a median return of +14.2% – based on 6 historical occasions with 4 of those showing positive returns (67%). This buy signal for Bitcoin received a high score of 7.6 (out of 10). This insight was generated with last price of 21544.

What’s This Token About?

Bitcoin is in the Top coin (Mkt cap) sector. Bitcoin (BTC) is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments. Based on the last 2 years’ risk/return profile, this asset is seen as Very Risky. Ticker symbol: BTC.

What’s My Risk / Reward and Time Horizon?

We found 90 days to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 24596.03 (+14.2%) has been reached. Based on Bitcoin’s recent up and down swings, LongShortCrypto suggests considering to set a stop loss level for this insight at 20479 (last price at 21544), which is equivalent to a -4.94% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

28% (September-2021), 12.3% (September-2020), -6.1% (September-2019), -2.6% (September- 2018), 39.1% (September-2017), 16% (September-2016).

Historical Chart:

Summary:

NameBitcoin
ViewUp
Star (1 to 10)7.6
Target14.2%
Time90 days
Hit Rate67%

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