Bitcoin
BTC$63 215.12

-3.68%

Ethereum
ETH$4 113.74

-4.52%

Binance Coin
BNB$492.11

-0.01%

Cardano
ADA$2.19

-4.22%

Tether
USDT$1.000225

0.02%

Solana
SOL$203.13

6.21%

Bitcoin just closed its best March and Q1 in 8 years


01 Apr 2021

#Bitcoin

No hint of bearish traditions returning to Bitcoin markets this year as 2021 bucks the trend for March to bring serious downside. Will Q2 deliver on expectations? Bitcoin (BTC) has seen its most successful Q1 in eight years as the Ides of March fail to materialize for hodlers.

Data published by analytics resource Bybt as Q1 2021 came to an end showed that BTC/USD gained more in the first three months of this year than any since 2013.

BTC price gains 103% in Q1

Despite not reclaiming all-time highs before Q2 began, Bitcoin put in a rare performance this March — normally, that month sees negative returns. Not only did the largest cryptocurrency rise by nearly 30% this time around, it also posted its highest price in history of $61,700.

Zooming out, Q1 2021 saw only green candles each month for a combined quarterly rise of 103.1%. The last year to surpass this was also 2013 when the price was under $100, with a Q1 performance of 539%.

Anticipation for the next few months is already building. Q2 is traditionally the strongest time of the year for Bitcoin with only two years seeing negative returns, both less than 10%. The target to beat is from 2019, which delivered 159% gains, and is the best Q2 since 2013.

Right on track

Simply studying raw returns data thus fuels a sense that Bitcoin is performing exactly as expected in the year after a block subsidy halving, traditionally its strongest in each four-year halving cycle. Comparing this cycle to previous ones — and 2021 to 2013 and 2017 — meanwhile shows that regardless of all-time highs, Bitcoin has actually done nothing out of the ordinary.

Uploading the latest version of a chart showing price movements after each halving, quant analyst PlanB put to rest concerns that BTC/USD has gained too quickly in recent months. "Bitcoin currently in between 2013 and 2017 tracks," he summarized to Twitter followers.

As Cointelegraph reported, PlanB's stock-to-flow price models call for an average price of either $100,000 or $288,000 this cycle, with the former now likely too conservative as a top.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 59.6% 82 $63 215.12 -3.68% 6.59% $1 191 657 233 429 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 68.4% 59 $4 113.74 -4.52% 8.69% $485 541 281 545 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 69.6% 64 $492.11 -0.01% 7.11% $82 084 003 346 BNB 7 days price change
4 Cardano (ADA) ADA Cardano predictions 87.2% 12 $2.19 -4.22% 1.82% $72 072 286 110 ADA 7 days price change
5 Tether (USDT) USDT Tether predictions 92% 1 $1.000225 0.02% -0.03% $69 628 797 147 USDT 7 days price change
6 Solana (SOL) SOL Solana predictions 70.4% 54 $203.13 6.21% 27.86% $61 107 300 810 SOL 7 days price change
7 XRP (XRP) XRP XRP predictions 72.4% 50 $1.10 -4.49% -1.16% $51 810 481 522 XRP 7 days price change
8 Polkadot (DOT) DOT Polkadot predictions 61.6% 76 $45.33 1.88% 13.24% $44 769 437 724 DOT 7 days price change
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10 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $1.000165 0.02% -0.01% $32 399 825 723 USDC 7 days price change
11 Terra (LUNA) LUNA Terra predictions 71.6% 63 $44.92 7.01% 22.24% $18 039 761 730 LUNA 7 days price change
12 UniSwap (UNI) UNI UniSwap predictions 73.2% 57 $26.63 -3.46% 3.63% $16 285 296 886 UNI 7 days price change
13 Avalanche (AVAX) AVAX Avalanche predictions 69.6% 64 $64.91 1.28% 17.79% $14 299 254 290 AVAX 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 63.2% 82 $63 235.52 -3.89% 6.63% $13 980 932 795 WBTC 7 days price change
15 Litecoin (LTC) LTC Litecoin predictions 71.2% 56 $198.02 -5.42% 9.96% $13 624 173 831 LTC 7 days price change

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