• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Bitcoin News / Did Bitcoin’s Current Bearish Rally Began During “Positive Q2 2020”?
btc usd

Did Bitcoin’s Current Bearish Rally Began During “Positive Q2 2020”?

July 11, 2020 by Utkarsh Gupta

The second quarter of 2020 has been extremely tumultuous. Bitcoin  and the rest of the crypto market initially put their right foot on the gas and the market exploded. According to data provided by Binance Research, BTC USD was up by 42% in Q2 2020, making it one of the best quarters in recent coin history.

 

bitcoin 2020

Other altcoins were also able to take advantage of the rally, with the likes of Ethereum, Bitcoin , and Litecoin sustaining significant gains. Correlations between the various crypto assets had also remained high in the charts, but slightly lower compared to Q1. The 90-day rolling correlation between the S&P 500 and the BTC was positive. But its influence decreased dramatically after mid-June.

Despite major positive moves by BTC USD, Binance’s report noted that it was crucial to note that almost all of BTC USD’s gains came in the first 45 days of the quarter. Referring to it as a “Kangaroo market,” the market environment was divided between the period when prices were going up and the period when prices were falling.

Now, although many supporters have liked to believe that current market stagnation and decline is due to recent market inactivity, the above data may suggest that Q2 2020 was not entirely positive.

Did Bitcoin ‘s current bearish picture start after mid-May?

Let us have some of the facts right. BTC USD’s last high occurred at the end of May when Bitcoin reached $10,250. From here on, the asset’s inability to breach $10,000 was rightly questioned, but the reason is that Bitcoin cash was halved on 11 May. Casual viewers hoped for a bullish rally right after the halving, but it has historically been identified that the BTC usually follows a prolonged correction for the first 6 months after the halving.

It is therefore not inaccurate to state that Bitcoin’s 42 percent positive return in Q2 2020 was down to the hype of the pre-halving. After the halving has been completed, Bitcoin cash is now following its historic past, and the underlying bearish trail is something that was triggered in the midst of Bitcoin’s bullish Q2 period.

Ethereum performed better in Q2 than BTC USD

The report further added that amidst Bitcoin’s stronghold, Ethereum consistently out-marched BTC with a quarterly return of approximately 70 percent in the charts. Major factors behind ETH’s rally has been down to the growth of DeFi and the anticipation surrounding Ethereum 2.0.

Now, with the commencement of Q3 2020, it will be interesting to see the development of the crypto market over the next three months; whether the bearish grip is broken towards the end of the year or not.

Filed Under: Bitcoin News, News Tagged With: Bitcoin (BTC), Bitcoin 2020, Bitcoin halving, BTC/USD, Crypto Market, Ethereum (ETH), Etherium

Primary Sidebar

Recent Posts

  • XRP Price Soars Toward $3 as Wallet Growth and Whale Bets Signal $6 Target July 13, 2025
  • Will Dogecoin Hit $0.43 in 2025? Analysts Break Down Key Price Zones July 13, 2025
  • Hedera Rally Gains Steam: Will HBAR Smash $0.29 Resistance? July 13, 2025
  • Ethereum Nears $3K: Is a Breakout or Breakdown Coming Next? July 13, 2025
  • XRP ETF Trading Volume Soars 5x Amid Investor Rush and Price Rally July 13, 2025

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2025 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.