BTC posts best March and Q1 since 2013

01 Apr 2021

Bitcoin has registered its most successful Q1 in eight years.

According to data published by Bybt analytics resource, at the end of the first quarter of 2021, BTC/USD gained more than any other initial quarter since 2013.

Although the world’s largest cryptocurrency by market capitalisation didn’t regain record highs before Q2 got underway, it was a rare performance in March for Bitcoin, typically a month that sees negative returns, reports Cointelegraph.

As well as increasing by close to 30% this time, the cryptocurrency posted its highest price ever of $61,700.

Furthermore, during the first quarter, there was a combined monthly rise of 103.1%. The last time this occurred was also in 2013, when the price was below $100, with a first quarter performance of 539%.

The second quarter is usually the strongest time of year for Bitcoin, with only two years registering negative returns up to now, both under 10%.

The one to beat is 2019, with 159% gains reported, the best second quarter since 2013.

However, when comparing this cycle to past ones – and indeed 2021 to 2013 and 2017 – regardless of the record highs, Bitcoin has done little out of the ordinary, the Cointelegraph report goes on to add.

In regard to Bitcoin price movements after every halving, crypto analyst PlanB dispelled concerns that BTC/USD has gained too rapidly in recent months.
He said on Twitter: "Bitcoin currently in between 2013 and 2017 tracks.”
As previously reported by Cointelegraph, PlanB’s stock-to-flow price models indicate an average price of $100,000 or $288,000 this current cycle, with $100,000 potentially too conservative as a high.