Bitcoin (BTC) became the most successful first quarter in eight years, as March IDs for inventors weren’t implemented.
Data released by Analytics source Bybt at the end of the first quarter of 2021 showed that in the first three months of this year, the BTC / USD rate increased more than at any time since 2013.
Bitcoin rose 103% in the first quarter
Although failing to fully recover before the start of the second quarter, Bitcoin showed a rare performance in March – and negative gains are usually seen this month.
This time, the largest cryptocurrency not only grew by 30%, but also showed the highest price in history – $ 61,700.
During the first quarter of 2021, green candles only lit monthly, posting a gross quarterly profit of 103.1%. The last year to surpass that figure was also 2013, when the price was under $ 100, and first-quarter numbers were 539%.
Projections are already being built for the next few months. The second quarter is traditionally the strongest time of year for Bitcoin, with negative returns in just two years, both of which are below 10%. The target to surpass is from 2019, which saw 159% growth and is the best second quarter since 2013.
Right on track
So, simply examining the raw yield data gives the impression that Bitcoin’s business is performing exactly as expected one year after the block support was halved, traditionally the strongest in every four-year half-cycle.
Meanwhile, a comparison of this course to previous ones – from 2021 to 2013 and 2017 – shows that despite working full time, Bitcoin has done nothing out of the ordinary.
By downloading the latest chart showing price action after each half, the Quantum Analyst plan eased concerns that the Bitcoin / USD pair has rallied very quickly in recent months.
His Twitter followers summed up: “Bitcoin is now between 2013 and 2017.”
Bitcoin price after slashing it in half from energy storage targets Source: PlanB / Twitter
According to the Cointelegraph report, PlanB’s inventory-to-capacity pricing models require an average price of $ 100,000 or $ 288,000 in this cycle, and the former is likely to be very conservative as a climax.