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The Bitcoin Q1 Seasonal CrashWe examine the distribution of the daily returns, proposing a simple seasonality strategy based on holding BTC only for two hours per day. The results point to a simple seasonality strategy that is based on holding BTC only for two hours per day. The second aim is to examine trend-following and. Baur et al. () are the first to take a closer look at seasonality patterns in Bitcoin prices and trading volume from seven global crypto exchanges and find.