🛑🛑🛑Detailed analysis of historical Bitcoin (BTC) performance for the quarter, month and week 🛑🛑🛑
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General review
The chart provided by Glassnode provides historical analysis of Bitcoin's performance over various time frames - quarterly, monthly and weekly. The graph shows the price movement of BTC from 2016 to May 2024, including periods of significant volatility and correction.
Key Metrics as of May 26, 2024 📅
90-day change: +25.6% 📈
30-day change: +7.4% 📈
7-day change: -3.3% 📉
This data indicates a significant increase over the past 90 days, indicating the current bullish trend 🐂 despite a slight decline over the past week 📉.
Historical Volatility 📉📈
The chart shows several periods of significant volatility:
January 2018: 26 out of 90 days had noticeable fluctuations, coinciding with the start of a major correction after the all-time high in December 2017 📉.
July 2019: 18 out of 90 days had high volatility as BTC again reached new highs after the 2018 bear market 📈.
March 2021: 19 days out of 90 had significant movements, which corresponded to the beginning of the current bull market 📈.
These periods are marked by an increase in trading volume 📊 (shown as bars on the chart), indicating high activity and interest in BTC during these times.
Current Situation as of May 2024 📅
May 2024: 5 out of 90 days showed significant volatility 📉, which is indicative of the current bullish trend 🐂, but with less fluctuation compared to previous periods of high volatility.
Volume and Price Analysis 📊
Trading Volume: The colored bars below the BTC price chart show trading volume at various time frames. An increase in volume usually coincides with sharp price movements 📈.
BTC Price: The black line represents the price of BTC, which has shown significant growth since the beginning of 2020, reaching a new all-time high at the end of 2021 and continuing to rise in 2024 📈.
Conclusions and Prospects 🧐
Bullish Trend: The current 90-day rise of +25.6% confirms the ongoing bullish trend 🐂, despite a slight decline over the past week 📉.
Stabilization: Fewer days with high volatility (5 out of 90) in May 2024 may indicate possible market stabilization 📊.
Long-Term Growth: Historical data shows that BTC tends to make significant corrections after periods of growth, which can be important for traders and investors when planning their strategies 📈📉.
Recommendations 💼
Monitor trading volume: Increases in volume often precede significant price movements 📊.
Analyze Time Frames: Understanding long-term trends and short-term fluctuations can help you make informed investment decisions 📈📉.
Caution with volatility: During periods of high volatility, it is recommended to use hedging strategies to reduce risks 📉.
