Another Magical Q2 for Bitcoin Ends in the Green, BTC Up Almost 50%

2020-6-1 18:08

Despite major volatility caused by the halving, Bitcoin has ended yet another Q2 in the green. After showing poor performance in Q1 being down 10% QoQ, Bitcoin closed the year’s second quarter with a price increase of 48.56 percent. Bitcoin Finally Gets Out Q1 Rut The economic downturn caused by the COVID-19 pandemic has left the crypto industry in shambles in the first three months of the year, losing over $74 billion in market cap in a single week. The first quarter of the year was the third consecutive negative quarter Bitcoin has seen since 2015, ending it with a 10.58% loss when compared to the fourth quarter of 2019. However, it seems that the volatility many predicted would cause an even worse performance in Q2 didn’t hit as hard, as Bitcoin closed the second quarter of the year with a significant gain. According to data from cryptocurrency tracking and analysis company Skew, Bitcoin ended the quarter with a 48.58% gain compared to the previous quarter. Historically, Bitcoin has had only one negative return in the second quarter of the year since 2014— in Q2 2018 which was a mere 6.7%. The average return of investing in Bitcoin from 2014 in Q2 only is nearly 60% while the returns are abysmally low for Q3 at less than 1 %. Table showing the quarterly returns for Bitcoin from 2014 to 2020. (Source: Skew) Q2 Success Doesn’t Mean Bitcoin is Out of the Bear Phase While Bitcoin’s price has, despite bouts of volatility, been growing in the past quarter, the world’s largest cryptocurrency still has a long way to go before it breaks through some major resistance levels that are still holding it in a bear market. An attempt to break through the $10,000 barrier proved unsuccessful last week, when the closest Bitcoin got to the mark was the several hours it spent at $9,700. As of press time, it seems that the world’s largest cryptocurrency has established solid support at $9,500. If the trend of massive jumps followed by a consolidation phase continues in the next few days, we might see Bitcoin establish support at a higher level. However, the upward momentum might not last that long if Bitcoin continues to repeat its previous quarterly performance. Historically, BTC has seen a poor performance in third quarters of the year, with the only positive return being in Q3 2017. Featured Image from Shutterstock

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bitcoin another green down qoq being poor

Источник: newsbtc.com

bitcoin another → Результатов: 126


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2021-10-19 16:23


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Bitcoin Likely to See Further Downside After Price Fails to Break Key Level

Bitcoin has been facing some immense selling pressure as of late, with the resistance found within the mid-to-upper $19,000 region proving to be too much for bulls to handle Despite seeing another strong rejection here overnight, it is important to note that Bitcoin once again set another higher-high This indicates that the cryptocurrency could be on the cusp of seeing another bid at breaking through the resistance it has been struggling with The support it […]

2020-12-5 02:00


Indian Congress Demands Probe Into Bitcoin Scam Involving Top Officials

Another day, another crypto-related scam. This time it’s in India, where members of the nation’s congress have demanded a Supreme Court-monitored investigation into a “mega Bitcoin scam.” Calls for the probe are led by senior congressional leader Shaktisinh Gohil, who accuses the top leadership of the country’s largest political party, the Bharatiya Janata Party, of […]

2018-7-8 19:00


Western Union files new patent with reference to Bitcoin [BTC] and Litecoin [LTC]

On 5th July, Western Union Company, an American Financial Services and Communication company filed a new patent with the US Patent and Trademark Office. The patent aims at ‘receiving and handling secure transfers’ in the electronic transfer network space which includes the transfer of cryptocurrency or digital currency from one device to another from different […]

2018-7-7 22:59


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Swiss Stock Exchange Operator Plans to Launch Crypto Exchange

SIX, the firm that operates and owns the Swiss stock exchange, has announced plans to launch a fully regulated digital cryptocurrency exchange. The firm says it plans to launch "the first market infrastructure in the world” which will “offer a fully integrated end-to-end trading" while providing a safe environment where digital assets can be issued and existing securities and non-bankable assets can be tokenized.

2018-7-7 23:11


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