Bitcoin on track for seven green months in historic performance streak

Quick Take

Bitcoin is poised to achieve a rare feat, closing seven consecutive months with gains, as reported by Glassnode. This streak, initiated in September 2023, echoes a previous record set between March and September 2012, marking only the second occurrence of such a streak in Bitcoin’s history.

Notably, the scale of value differs significantly between these periods. In 2012, Bitcoin’s value increased from $4.89 to $12.37, marking a substantial price appreciation of approximately 153%. Recently, Bitcoin’s price experienced a significant rise once again, escalating from about $27,000 to an impressive $66,000, translating to a price appreciation of around 144%.

Moreover, from a quarterly perspective, Bitcoin’s performance has shown consistency, with increases of approximately 57% in both Q4 2023 and Q1 2024, according to Coinglass.

Additionally, Bitcoin’s daily performance on March 19 and 20 mirrored the dramatic price movements seen after the FTX collapse in November 2022. These days marked Bitcoin’s largest single-day decline (9%) and its second-largest single-day gain (nearly 10%) since the event.

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