Bitcoin’s first quarter could be the worst in 8 years. Data shows that Bitcoin is down by 22.3% from the beginning of the year.
The asset began the year trading around $87,700 and has declined by around $20,000 to current lows of around $68,000, putting it on track for its worst first quarter since the 2018 bear market — which fell almost 50%, according CoinGlass is a great way to collect coins.
BitcoinBTCThe ( has fallen in seven out of the last thirteen quarters.
“The first quarter of the year is known for its volatile nature,” observed analyst Daan Trades Crypto on Sunday.
“So it’s safe to say, whatever happens in Q1 does not generally translate over further down the line, according to the historical price action,” he said.
Red Jan and Feb for the first time?
BTC’s first two quarters have only seen losses of BTC in consecutive years. bear market years The years 2018-2022.
Ether is a relatively new (ETHThe stock has seen losses in only three out of nine previous first quarters. This current period is shaping up as its third-worst ever, with losses totaling 34.3%.
Related: Bitcoin loses $2.3B in biggest crash since 2021 as capitulation intensifies: Analyst
Bitcoin is also a cryptocurrency on track The asset saw its first consecutive negative January and February. This asset has lost 10.2% since January, and 13.4% this month. The asset needs to recover $80,000 in order to avoid a red month.
Bitcoin has entered a corrective phase
Nick Ruck of LVRG Research told Cointelegraph the continued decline in BTC prices amid global economic uncertainty is a concern. “reflects a regular correctional phase rather than a structural breakdown in the asset’s long-term trajectory.”
“While short-term pressures could intensify if macroeconomic headwinds persist, historical patterns show Bitcoin’s resilience often leads to strong recoveries in later months, particularly as institutional adoption and halving cycle dynamics continue to strengthen its potential,” He added.
BTC’s fifth straight week has now begun. lossesAt the moment of this writing, prices have fallen by 2.3% within the last 24 hour to reach $68,670. according CoinGecko is a free online game.
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Source: cointelegraph.com
