The First Quarter (Q1) is over, and Bitcoin (BTC) closed Q1 in an extraordinary manner, with the most successful achievement in eight years.
Information published by analytical resource Bybt as Q1 2021 ends, shows if BTC / USD got its best price in the first three months of the year compared to since 2013.
Bitcoin (BTC) Up 103% in Q1
Even though you haven't been able to get the best price of all time before the entry of the second quarter (Q2) begins, even so, the performance of Bitcoin (BTC) in March is one of the greatest performances, because as seen in the table above, every March the performance of Bitcoin (BTC) denotes a negative return.
A cryptocurrency with a capitalization of this size has not only gone up nearly 30% this time around, as Bitcoin also posted its highest price in history, at $61,700.
Always Forms a Green Candle
In Q1 2021, it seems that the Bitcoin (BTC) chart always forms a green candle every month, with a combined three-month increase reaching 103.1%, truly positive months for Bitcoin (BTC).
Previously in 2013, there was also an extraordinary thing like this, where the performance of Bitcoin (BTC) in its Q1 or the first three months got 539%, and at that time the price of Bitcoin (BTC) was still below $100.
With the best Bitcoin (BTC) price in the first quarter currently occurring, the anticipation for the next few months is predictable, the second curve (Q2) will occur in April, and traditionally the strongest time for Bitcoin (BTC) because at This second quarter Bitcoin (BTC) has only shown two years with a negative return of less than 10%.
The target that must be achieved or better if it can be beaten by Bitcoin (BTC) is the second quarter of 2019 which resulted in 159% of profits, which is the second-best quarter since 2013.
Bitcoin (BTC) Is On The Right Path
Bitcoin (BTC) performed exactly as expected in the year following the block subsidy reduction, which occurs once every four years.
FYI: Bitcoin Halving is an event where the block reward is halved. The reward block halving occurs every 210,000 blocks.
This halving event will only occur when half of the coin supply is in circulation. The halving will repeat when the remaining half of the coin supply is in circulation and continues like that for every 4 years according to the code.
The first halving that occurred on 28 November 2012 were from 50 BTC to 25 BTC. The second halving took place on 9 July 2016 from 25 BTC to 12.5 BTC. The third most recent halving took place on 11 May 2020. Each halving day will affect the Bitcoin price.
Comparing this with the previous cycles from 2013, 2017, and 2021, where these were the years of the highest price increase for Bitcoin (BTC), it shows that despite all-time highs, Bitcoin has actually done nothing out of the ordinary.
PlanB just uploaded the latest version of the chart showing the price movement after every half, PlanB quantitative analysts dismissed worries if BTC / USD had risen too fast in recent months.
"Bitcoin is currently between the 2013 and 2017 tracks," PlanB tweeted.
Report from Cointelegraph, PlanB's stock-to-flow pricing model requires an average price of $100,000 or $288,000 for this cycle, with the former now tending to be overly conservative as the top.
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