Bitcoin is also frequently featured in the discussions of crypto supporters as it is the leading cryptocurrency in the market. Some members of the cryptocurrency community have entered into a debate over what a new model for Bitcoin means and how it might affect Bitcoin price dynamics in 2022.
Popular crypto podcaster Will Clemente, who was originally an analyst at Blockware, has shared a chart showing Bitcoin (BTC) performance by quarters.
With Q1 in the books, here is a historical view of Bitcoin’s quarterly candles pic.twitter.com/GoV5Pu01xw
— Will Clemente (@WClementeIII) April 1, 2022
According to the chart in question, Bitcoin (BTC) appears to have formed two ultra-thin candles in a row in 2022, which is unprecedented in its history. Therefore, the period between Q4 of 2021 and Q1 of 2022 may be less volatile for Bitcoin (BTC).
Clemente’s Twitter followers shared various interpretations of this pattern, which resembles a so-called Doji Candles pattern among traders and analysts. While some were confident that the two thin candles signaled a major consolidation, other commentators noted that it was a clear indication of Bitcoin’s maturation as an asset.
Does Bitcoin (BTC) love April?
Bitcoin (BTC) closed the first quarter of 2022 with a decrease of 1.46% compared to January 1. This is the smallest negative Bitcoin (BTC) quarterly price action in its history. In Q4 2021, the leading crypto rose 5.45%, making this the second least significant positive quarter for Bitcoin (BTC): In Q3 2018, the crypto king had gained 3.61% in 90 days.
Typically, April is a green month for the leading cryptocurrency. It closed April with a loss of 1.6-3.4% in the red only three times in 10 years.
At the same time, the month of April brought the flagship cryptocurrency 33-35% gains for the fourth consecutive year. If this happens again, Bitcoin (BTC) could easily return to levels above $62,000.
In the light of this information, it is a matter of curiosity what kind of trajectory Bitcoin will create in April. The leading cryptocurrency is trading at $46,163 at the time of writing.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.