Bitcoin (BTC), the longest monthly period since 2021, realized a series of uptrends. BTC’s performance in May, which experienced an increase in January, February, March and April, is eagerly awaited.
Will Bitcoin’s (BTC) Four-Month Consecutive Rising Series End?
BTC started May with an average loss of 5% and hit $27,650. With the decline of BTC, sharper decreases were seen in altcoins.
Bitcoin’s 72% recovery from last year’s crypto crash in 2023 stalled at $30,000 as investors await further new developments.
The rally was fueled by arguments that the Federal Reserve will return to looser monetary policy, as well as arguments that the US banking crisis has reduced confidence in the fiat currency.
First Republic Bank is at the center of the last leg of banking problems in the US. Recently, it was announced that First Republic Bank was seized by the US regulator.
Most experts give an opinion on this issue as follows:
Bitcoin volatility over the past few days “could be just a related volatility and some longs were liquidated globally as the overall markets receded a bit, affecting cryptocurrencies as well.”
On the other hand, when the Bitcoin graph is examined, it is seen that there was an increase of 76 percent in the month after the last monthly period of 4 months or more. Although it is impossible to say whether this situation will repeat itself, it is highly likely that we will experience more volatile days, especially after the FED’s interest rate decision, which will be announced on Wednesday.
*Not investment advice.
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