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Bitcoin records its first ‘red April’ in six years – Explica .co


Key facts:

April is historically the second month with the best bitcoin returns.

At the end of April 2021, bitcoin registered an appreciation of 94% so far this year.

This past Friday 30, the first April closing of the bitcoin price was registered in red, since 2016. Analyzing the behavior of the price in April since 2013, there are 6 closings in green and 3 in red, including this year.

In the portal bybt.com, which records the daily, weekly and monthly returns of the bitcoin price since 2013, in addition to other statistics, it is found that April is in the second place of the best monthly returns. February, October and November are the months with the best historical performance, with only two periods in red out of a total of nine.

In the BTC price chart in the month of April, it can be seen that even with the range of variability that existed between the historical maximum of April 14 of USD 64,500, and the local minimum of April 18, of USD 47,300, the closing price was very close to the opening price of the month. The April return of the BTC price was -1.9%, and the closing price was $ 58,193.

Despite the large price fluctuation, the price of BTC closed in April at less than 2% of the initial price. Source: CoinMarketCap.

Even with the April correction, which is the steepest of the four corrections recorded in 2021, bitcoin’s return in the first four months of the year is 98%.

March and September, on the other hand, are the months with the worst historical performance, with only two and three closing periods in green. However, despite the fact that March has a history of negative returns, this year the third month closed with a 30% return. This confirms that historical data can show a trend, but its predictive power is limited.

The third quarter has historically been mixed in the returns of the pioneer cryptocurrency, with four periods in red and four in green, counting the third quarter of 2020. Considering that May and June have so far been predominantly ‘green months’, no there is a priori a negative expectation about what will happen at the end of the third quarter of this year, in terms of BTC prices.

BTC price monthly returns are shown since 2013. Source: bybt.com.


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