‘Buy in May and Go Away’ as Crypto Bucks Summer Lull, Analysts Say
“Sell in May and go away,” goes the Wall Street adage for equity markets every summer. For bitcoin
, though, some analysts say this season could mark a break from tradition.
“As we get into the European summer months, the sense is it’s more likely a case of ‘buy in May and go away’ than any significant headwinds or selling pressure,” said Paul Howard, director at crypto trading firm Wincent in a market note.
A confluence of positive regulatory developments around digital assets in the U.S. and increasing institutional buying both via exchange-traded funds and spot allocation is poised to push BTC higher in the next months, Howard said.
U.S.-traded spot bitcoin ETFs, for example, pulled in $667 million in net inflows on Monday with BTC…
