April 2021 has been an interesting month for the price of Bitcoin. Prices have been nothing short of volatile since the month started. Bitcoin reached its all-time high of over $64k USD in April, all while sinking over 10% lower from its high in less than a week. Many wonder whether Bitcoin will fall back to 2020 prices, while other say Bitcoin has hit its peak. What many people do not know is that Bitcoin having a bad April is perfectly normal and okay.
Historically, Bitcoin has had good months and bad months. For example, a trend with the cryptocurrency is that it has never had a 7-month gain streak before. At some point over an 7-month period, Bitcoin always has a bad month. April 2021 marks the 7th month in a so far positive cycle. If Bitcoin maintains a price higher than it ended March 2021 with, that will be a new record for the cryptocurrency.
Additionally, Bitcoin usually experiences a bear market historically in April. Bitcoin has only closed with positive gains in previous Aprils twice in the last 10 years. Every other year April has been a loss for the cryptocurrency. So far in April 2021 Bitcoin remains up a few thousand USD compared to the closing price in March 2020. These negative months are not without rewards, however, as May is usually a very strong month for Bitcoin. For the last five years straight, Bitcoin has seen a double-digit percentage increase in price from April to May, resulting in massive gains for those who buy at April lows.
Read more and see the last 10 year prices and differences on our website.
Posted Using LeoFinance Beta
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