New Data Shows Bitcoin Captured Net Gains For Six Consecutive Months – Market Updates Bitcoin News
Bitcoin, which closed March with a total gain of 29%, has been in the green for six consecutive months, according to the latest data from Bloqport. The data also shows that the value of the crypto asset has almost doubled from its closing price of $29,383 in December 2020 to its current value of $58,647. With this launch, bitcoin has already surpassed many other assets, including gold.
Use of institutional fuel bulldozer
As the research and analysis firm notes, the current BTC launch began in the early fourth quarter of 2020, coinciding with an increase in reports of acquisitions of crypto assets by institutional investors. According to Bitcoin.com News, Microstrategy and Square Inc have launched a new wave of crypto asset purchases by large corporations and hedge funds. Thus, Square Inc. announced on 7. In October 2020, it announced that it would convert 1% of its cash reserves ($50 million at the time) into BTC. Since then, other companies, including Elon Musk’s Tesla, have disclosed their holdings of BTC.
Meanwhile, as more and more institutional investors and large corporations have disclosed their positions in BTC, the value of crypto assets has risen. So after a net gain of 28% in October, crypto assets rose 43% in November and another 48% in December.
Second best mileage of BTC
BTC also broke its 2017/18 record of just under $20,000 in December. The same is true for the first three months of 2021. BTC rose by double digits, with the smallest gains in January.
However, according to Bloqport, this is only the third time bitcoin has posted a net profit for six or more consecutive months. The same type of arrival had already been observed in 2012, between April and September. However, BTC posted seven consecutive monthly net earnings between November 2012 and May 2013.
As for the worst times for crypto assets, the data shows that BTC had some of its worst times in 2011 and 2018.
Do you think BTC’s monthly net income can break the current record of seven consecutive months? Tell us what you think in the comments below.
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