Sell in May and Go Away?
Today being Labor Day - the unofficial end of summer in the United States, I thought I'd look at Steem's historical performance in light of the old trading axiom, "Sell in May and go away". How has Steem performed during the summer months of its history?
Let's take a look. The following table and charts are based on data from Yahoo! Finance.
Overview Table
| Year | June 1 Open | August 31 Close | Summer Change |
|---|---|---|---|
| 2018 | 2.38176 | 0.94985 | Down |
| 2019 | 0.40252 | 0.166318 | Down |
| 2020 | 0.209503 | 0.228726 | Up |
| 2021 | 0.563054 | 0.588153 | Up |
| 2022 | 0.267813 | 0.229373 | Down |
| 2023 | 0.181805 | 0.152875 | Down |
| 2024 | 0.279959 | 0.16183 | Down |
Annual charts
2018
2019
2020
2021
2022
2023
2024
Conclusion
In summary, the summer prices have declined during 5 of 7 years where data is available. Further, in the two summers when prices advanced, they only moved up by small amounts.
In MythBusters lingo, I guess we can say, "Myth confirmed". 😉
Note, however, that these numbers do not include things like interest and curation rewards that result from owning powered-up STEEM.
For the record, I think this sort of data is fun to look at, but I don't think it tells us anything at all about what to expect in the future. This is posted for entertainment purposes, only.
Thank you for your time and attention.
As a general rule, I up-vote comments that demonstrate "proof of reading".
Steve Palmer is an IT professional with three decades of professional experience in data communications and information systems. He holds a bachelor's degree in mathematics, a master's degree in computer science, and a master's degree in information systems and technology management. He has been awarded 3 US patents.
Pixabay license, source
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Interesante los patrones, admito que lo que me hizo entrar fue el buen gancho en el titulo de la publicación. Es normal ver patrones por todos lados, sin embargo, me gustan como se comporto steem en 2020, en algún momento volveremos allí?
With the current phase of the BTC halving cycle, I had expected that this year might be a repeat of 2020. It didn't work out that way, though. I'm certain that we'll see it again, but not so sure about when. 😉
Interesting data! It's notable that despite Steem's 'Sell in May' pattern, cryptocurrency markets often defy traditional trends due to different factors. While history offers clues, it's the unexpected that shapes future price movements. Diversification and long-term perspective might be key in navigating these seasonal trends. Thanks for the entertaining analysis!
Exactly. There is a seasonality to investor behavior that's driven by things like summer-time school breaks and family vacations, but I think that's a small part of the picture.
June 1, 2018 - August 31, 2019, was brutal. I have nothing but love for those on team HODL. What a fall that was.
lol. Yeah, it was painful.
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
Great topic! I wonder if there are any similar trends in the other direction in terms of months when STEEM historically goes up?
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Thank you @httr4life.
I have wondered that, too. I'll probably play around with some other ranges in the future. We have looked at as goes January, so goes the year in the past.
"Wow, what a fascinating analysis! 🤔 I love how you've dug into Steem's historical performance during the summer months. The chart comparisons are super helpful too! 💡 It's always interesting to see patterns emerge, and it seems like the "Sell in May and go away" axiom might not be entirely applicable here 😊.
I'd love to hear more about your thoughts on this data - do you think there are any potential explanations for the trends you've observed? 🤔 And what's your take on how Steem might perform during future summers? 🌞
Also, thank you for sharing this info in a clear and concise way! It's always great to see users contributing valuable insights to the community. 👏 As a small token of appreciation, I'd like to request that you vote for my witness 'xpilar.witness' - just head over to https://steemitwallet.com/~witnesses to cast your ballot 🗳️! Let's keep Steem growing and thriving together! 💪"