Bitcoin (BTC), the grand poobah of cryptocurrencies, which reached the giddy heights of $108,824 last month in January, might just be stretching its wings for another record-breaking flight. And no, this isn’t just the usual pie in the sky. It’s more like a pie chart of past performance, which tends to pop up when you’re least looking for it.
Here’s the quirky bit: If you squint at the figures, you’ll see Bitcoin has a spring fling with gains. CryptoRank’s data says BTC has a knack for returns like a leprechaun’s pot of gold: +11.8% in March, +34.7% in April, and +20% in May. It’s like a financial fairy tale, minus the ogres and dragons. Well, mostly.
Even the traditionally lazy summer months of June and July have historically tossed in a few coins, adding +7.91% and +8.26% respectively. Median returns are a bit more like a tortoise, averaging around 4.674% over the next five months, but still, it’s a step in the right direction.
As it stands, Bitcoin is hovering around $96,000, which means it’s gotta hustle to break its own record. But if history is any teacher — and let’s face it, in crypto, it’s the only teacher with a decent attendance record — there’s a jolly good chance it could pull it off.
Cast your mind back to March 2024, April 2020, or May 2019. Bitcoin didn’t just tiptoe forward, it did the splits. And if the cosmic tumblers click into place again, we could be in for a repeat performance.
Naturally, predicting crypto is like herding cats in a hurricane. The market is a wild, untamable beast. But with 14 years of price history, Bitcoin has given us enough tea leaves to at least make a well-informed stab in the dark.
It’s not a crystal ball, but it’ll do until one turns up.
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2025-02-23 19:59