Bitcoin: Seven months in a row of growth
The month of March is over. And Bitcoin is setting new records.
The month of March is over. And Bitcoin is setting new records. This has only been achieved once before, with Bitcoin closing its seventh consecutive month in positive territory.
With a monthly closing price of $71,333, Bitcoin rose 16.8 percent in March. The last time this feat was achieved was in 2012. This year alone, the number one cryptocurrency is up 64 percent. For the first time, Bitcoin could also reach a new all-time high before its upcoming halving. Another record: at $71,333, BTC closed the month above $70,000 for the first time in its history.
What happens next? A look at the past shows that when BTC closes above a previous all-time high, the journey continues northward. Recently, Bitcoin remains fairly quiet. Since mid-March, BTC volatility has been between two and three percent. This is a relatively low value for BTC standards. However, the low volatility probably also has to do with the Easter vacation.
BTC can be traded continuously on centralized exchanges. However, there is no access to Bitcoin ETFs during the Easter vacations. However, the run on index funds for the holidays has been remarkable. At the time of writing, BlackRock alone holds 252,010 BTC.
