Hello my fellow bloggers! 2021 was great for Bitcoin and crypto market in general. Bitcoin was able to set another record nobody is talking about. Is it good for the market or not? Let’s dive in and find out!
Historically Bitcoin has good and bad months. For example, January and March are usually bad for bitcoin. The price usually goes down in a correction. At the same time, October and November have a very positive history of BTC price going up to new highs. This is just statistics of course. It helps us to set our expectations, but don’t affect market moves. In 2021 Bitcoin went against historical statistics and made another achievement.
Bitcoin was in green zone for 6 month straight! The previous achievement was BTC price going for 5 month in a row (2017 and 2019). Yes, even the bullrun of 2017 wasn’t this positive for BTC. Does it mean Bitcoin becomes less volatile because of institutional interest?
Bitcoin quarterly chart also looks good. In 2017 we saw all four quarters in the green zone. 5 quarters in a row if you count Q4 2016. This time we already have 4 quarters with positive returns. Will Bitcoin break this record as well by Q3 2021? Who knows, if stock market will not crash this year, everything is possible.
The question is if it is a good sign or not. Every medal have two sides. On the one hand, it is a bullish sign. Stable growth of an asset is good signal for market newcomers. On a daily chart, BTC has its ups and downs. When you zoom out to weekly chart, you see a stable uptrend with minor corrections. Institutions and retail investors will be more confident in investing in crypto in 2021.
On the other hand, the growth without any major correction is unnatural. There are many unnatural things nowadays. In 2020 world economics crashed due to pandemic, yet stock and crypto markets saw an unbelievable growth. Now many experts think when economy recovers, all markets will drop. Seeing BTC price rising from month to month without significant deeps makes people wonder when we will have a correction. History tells us we should see one regardless how powerful bullrun is.
What do you think about stable growth of crypto market? Are we ready for a correction? Or will the market go up in April and May? Let me know in the comments below!
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I’m not a financial of any kind. I encourage you to check all information yourself and make decision only based on your own opinion. All articles are created for solely entertainment purpose.
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