Analyst: Bitcoin is on the verge of an impressive June Rally

Possible rally ahead

The crypto analyst emphasizes that this phenomenon, where the realized price of Bitcoin (RP) exceeds the realized price of long-term holders (LTH RP), usually occurs in June. He suggests there is a good chance we could see a similar development this month.

“The interesting thing about this is that this usually happens in June,” the analyst explains. “Except in 2012 when Bitcoin was still in the startup phase – then it happened in August. It also happened in June 2016 and in June 2019. Can we expect another scenario like this in June 2023? This is certainly a point to keep an eye on. Should it happen, we can expect an impressive price increase.”

He does note, however, that after the price spike there is usually a small correction. He reminds his followers of the correction in 2020, which was caused by the Covid-19 pandemic. But overall, he argues, after such June peaks, history shows a continued upward trend.

“So, we need to closely monitor whether the realized price of Bitcoin will exceed the realized price of the long-term holders. Because if that happens, an impressive price increase could follow. So we have to prepare for the possible lift-off.”

Many are familiar with the saying, “Sell in May and go away.” But looking at what could happen in June, that could be a big mistake.

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