In January-March 2021, the leading cryptocurrency in the world added 103.76% to its price. This represents the best result for the first quarter in eight years and one of the five most successful quarterly results recorded so far.
Back in the first quarter of 2013, Bitcoin scored a gain of 539% due to a low starting base. Back then, the quotes did not surpass $100.
March 2021 stretched the rising Bitcoin streak to six successive months. The price has overtaken the psychological mark of $50,000 in the past 30 days.
After the ending of the first quarter of 2021, Bitcoin looks more desirable than conventional assets. Especially noteworthy is the discrepancy between the first-ever cryptocurrency and gold, which dropped by 10% over this timeframe.
“Bitcoin just echoes the dynamics of previous cycles after halving in agreement with the Stock-to-Flow model,” determined the blogger Plan B.
The second quarter is usually a satisfactory time for the leading cryptocurrency. Since 2013, the quarterly decline in appraisals was observed only three times and did not surpass 7.7%, the growing dynamics – six times when referring to the range above 7.7%.
The prominent analyst Willie Wu described the sale of Bitcoin right now with the word “madness”.
Senior Bloomberg strategist Mike McGlone forecasted that the “digital gold” will soar to $400,000 in the current year.
