Bitcoin halving nears and traders look for bullish narrative

According to spokespersons for cryptocurrency exchange Coinbase, "Many cryptocurrency traders are eyeing the Bitcoin halving event as a primary driver for a potential price rally, but the time of year will be a hindrance."

According to what was explained Coinbase in its April 5 market commentary report, "The cryptocurrency market will have to find another narrative to further drive prices across the board."

The only thing certain is that, "BTC halving, currently scheduled for April 20 or 21, could be a catalyst for higher prices, but will have to contend with what is typically a weak time of the year for cryptocurrency markets and other risk assets"

On the other hand and according to research conducted by digital asset firm Brave New Coin, "Bitcoin has typically seen a monthly return of around 2.7% from June to September since 2011, while in the other eight months, it averaged a return of around 19.3%."

Meanwhile, Coinbase further noted that overall cryptocurrency volumes "have also continued to slow as the market tries to find the next narrative to drive it higher."

Cointelegraph. Bitcoin halving will have to battle with ‘weak time of year’ — Coinbase. Link

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