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2022 will likely be the second worst year in Bitcoin’s history, yet the only year with four consecutive red quarterly candles

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by COINS NEWS 140 Views

2022 will likely be the second worst year in Bitcoin’s history, yet the only year with four consecutive red quarterly candles

At the time of writing, Bitcoin is $16.7k. There no doubt that this will be a red year, given that at the start of the year, Bitcoin was $47K (so sad...). Three observations + questions from my side knowing that the yearly close is in a few days:

(1) With this yearly close, Bitcoin completes the typical cycle of "three green years --> one red year".

????2011 ????2015 ????2019 2023?
????2012 ????2016 ????2020 2024?
????2013 ????2017 ????2021 2025?
????2014 ????2018 ????2022 2026?

The question is, what about 2023, 2024, and 2025? Will the cycle continue?

(2) Bitcoin is looking to have the second worst year in history, with ~65% on a year to year basis. Only 2018 was worse with -73%.

Or will we dump more and beat 2018? Given the macro, is it not a miracle that this year was not the worst one in history?

https://preview.redd.it/tnf34mxewa8a1.jpg?1237&format=pjpg&auto=webp&s=456598caf7ddf9f10a7d4cc795d96dba242e1013

(3) This will likely be the very first time Bitcoin has four consecutive red quarterly candles

To avoid this from happening, we need a close above $20K. Note that we did have three quarterly candles in a row before, highlighted with a circle in the graph below.

Bitcoin quarterly chart

submitted by /u/Beyonderr
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