K33 Research analyst: Q3 is usually the weakest period for Bitcoin returns

BlockBeats news, July 10, K33 Research senior analyst Vetle Lunde pointed out on Tuesday that seasonal trends are not helpful for Bitcoin, and the third quarter is usually the weakest period of returns.

He added that seasonal weakness coincides with the pressure on prices from the sale of seized assets by the German state of Saxony and the ongoing Mt. Gox repayment distribution.

According to K33 Research's estimates, the market will absorb 75,000 to 118,000 BTC from Saxony and Mt. Gox customers throughout the summer, worth $4.3 billion to $6.8 billion at current prices.

"We expect these capital flows to be a burden on Bitcoin performance in the coming months, and market volatility will continue until October," Lunde said. (CoinDesk)