- Let’s take a look at the results of April in the crypto market
- As well as historical data for May
April has been a tumultuous month in the crypto world. We will remember him for banking panics, new US repressions, high-profile scams and unfounded rumors. Such news from time to time reduced the price of bitcoin. But the cryptocurrency market somehow found its footing and ended the month at $28,610.
So, April for Bitcoin closed at +3.05%.
The capitalization of the crypto market fluctuates around $1.18 trillion for a week in a row. Other important Monday metrics:
- Bitcoin $28,513.44 (↓2.60%);
- Index of fear and greed – 63 (greed);
- Dominance – 46.80%;
- The trading volume for 24 hours is $18.7 billion.
Over the past week, bitcoin has fallen several times below the $27,000 mark. Experts repeat that uncertainty with US regulators and geopolitical tensions continue to put pressure on the cryptocurrency market.
Historical data for May
May has historically been a fickle month for bitcoin. It turned green 7 times and red 5 times. If we add (and subtract) all the May results together, then the price of BTC has increased by 274% in these months. This is an average of 22.85% per month. Higher averages were only in November, April and October.
However, May 2021 and 2022 turned out to be black swans for BTC. This was due to exceptional cases. In May 2021, China banned bitcoin mining and Tesla abandoned plans to implement crypto payments. Last May brought the collapse of Terra Luna, and then the fall of many crypto projects.