In summary:
- Bitcoin has had 6 consecutive green months in terms of monthly returns
- Bitcoin just had its best Q1 performance since 2013
- BTC has also traded for 30 days straight above $50k
- April and May are historically known for being green months for Bitcoin
The King of Crypto, Bitcoin (BTC), has just closed its sixth straight month in the green. For the last half-year, Bitcoin has had positive monthly returns with the recently concluded Q1 of 2021 being the best first quarter for Bitcoin since 2013. Furthermore, Bitcoin has comfortably traded for 30 days above the crucial psychological support zone of $50k.
The aforementioned Bitcoin milestones were identified and highlighted by the team at Bloqport through the following tweet and accompanying chart.
#Bitcoin has just had its best Q1 performance since 2013, been in the green for 6 consecutive months and spent 30 days above $50,000.
Q2 is also historically the best quarter. pic.twitter.com/Mnrir36wQ0
— Bloqport (@Bloqport) April 1, 2021
April and May Are Known To be Green Months for Bitcoin
Taking a quick glance at Bitcoin’s monthly returns courtesy of Bybt.com reveals that the months of April, May, and to some degree, June, have also been good months for BTC in terms of returns. The screenshot below courtesy of the tracking website further points to a bullish Q2 2021 for Bitcoin moving forward.
In a Twitter commentary earlier today, Crypto analyst and Partner at Cinneamhain Ventures, Adam Cochran, further explained how Q2 might be a big one for Bitcoin. According to his analysis, the conclusion of the US tax season, as well as the slow re-opening of the US economy, might provide enough bullish momentum for Bitcoin and crypto to soar to new highs. He explained:
End of tax season (and tax loss harvesting), year end for a lot of accounting, and the hope of spring is in the air. But this year it joins a re-opening economy, and the spring launch of major crypto innovations…
Oh to top it all off? Those legacy banks that down played and stifled blockchain innovation for years finally caved to public pressure and will now be offering it to their wealthy clients through a massive sales network just as the top crypto exchange goes public at $100B
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