Bitcoin has sustained its positive momentum with four consecutive green months, and its price has risen by over 50% in the last month alone. This cryptocurrency has continued to attract investors, traders, and businesses, and its market capitalization has surged to new heights. If you’re interested in investing in Bitcoin, now could be a great time to take advantage of its upward trend. With its inherent volatility, it’s essential that you conduct thorough research and understand the risks involved before making any investment decisions. With its consistent growth, Bitcoin could potentially offer significant returns for those who are willing to take the plunge.
Bitcoin Has Four Consecutive Green Months According to Coinglass Data as of April 28
Bitcoin has had another good month, recording a fourth consecutive green month, as reported in Coinglass data as of April 28. The last time this happened was in 2019, following the bear market, with five consecutive green months from February to June.
As we look at the current market structure, we can notice similarities between this bear market and the one in 2019. It is encouraging as Bitcoin could produce another green month. Moving forward, May has historically been very bearish for Bitcoin in the last two years. In May 2021, China banned mining, and May 2022 marked the start of the Terra Luna collapse.
Although April’s performance had one of the worst daily performances from Bitcoin, registering a -5.225% (worst daily performance since the SVB and FTX collapses), investors remain bullish. They remain confident that they will record green months in the coming months.
Green Month Expectation
With Bitcoin’s current bull run, there is a lot of optimism that green months will continue. As we approach May, investors will be keeping a close eye on how the market evolves. The China mining ban showed us the impact governments can have on the market, and it is something investors need to keep in mind continuously.
It’s clear that investors have learned from the past two years’ bearish May markets and will be thinking ahead of time. They will prepare their strategies for all scenarios and adapt as needed.
As we come to the end of April, Bitcoin investors are excited to have had four consecutive green months. This performance has not happened since the 2019 bear market. The market structure is similar to that of 2019, and investors view this as a positive sign for Bitcoin.
While the daily performance in April was not so stellar, the bullish sentiments among investors show they still expect green months ahead. We will continue to monitor any significant events in the market, including government regulations that impact Bitcoin’s price in May and the coming months.