Cryptocurrency While the downward trend in the market continues, investors have now tied their hopes to May. Alright Bitcoin (BTC) How has the price usually performed in May historically?
According to TradingView data, when the data is analyzed since July 2010, BTC price closed this month with an increase in May, 7 of the last 11 years.
When historical data are examined, May was observed as the fourth month in which Bitcoin performed the best in the last 11 years, and BTC rose by 289% on average in May in 11 years.
“Bitcoin Price May Average Between $32,000 and $48,000 by the End of May”
Alex Kuptsikevich, senior market analyst at FxPro, said in his statement:
“When we evaluate it as a month, we can say that May was relatively successful for Bitcoin. In the last 11 years, the BTC price has increased 7 times and decreased 4 times in May.
The average increase in May was recorded as 27%, while the average decrease was recorded as 16%. When these scenarios are examined, the BTC price may be between $32,000 and $48,000 on average at the end of May.”
However, it should be noted that past performances do not constitute any guarantee for the future. As it is known, the BTC market structure has changed a lot since 2020, and now the effect of institutions and large investors on prices is measured more. As these investors view BTC as risky assets, they can liquidate their holdings in a global bear market, according to experts.
BTC price is trading at $ 38,580 at the time of this writing.
*Not investment advice.