K33 Research Analyst: The third quarter is usually the weakest period for Bitcoin returns

ChainCatcher news, according to CoinDesk, K33 Research senior analyst Vetle Lunde pointed out on Tuesday that seasonal trends are not helping Bitcoin, as the third quarter is typically the weakest period for returns.

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

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

"We expect these fund flows to weigh on Bitcoin's performance in the coming months, and market volatility will persist until October," Lunde said.