August is a red month for Bitcoin!
And stats don't lie - BTC crushed in 63% of cases during that time.
Will this August be the same?
1/ The drop
Instead of focusing on all years, we'll take the period of 2021–2024.
Here's how price changed:
2/ Price
2021: The month began from $41,460 and ended with $47,160 (+13%)
2022: The beginning is $23,300 and ending is $20,000 (-15%)
2023: From $29,200 to $25,900 (-12%)
The average is -5% in a month!
3/ Inflow
The situation here remains the same:
2021: +$308.48M
2022: -$407.33M
2023: -$789.33M
Even though the drop of 2022 was bigger, 2023 won in the outflow...
4/ Active users and trading volume
Don't worry, here's the situation better.
2021: On August 1, 2021, there were 909k active users. 31 days later, 925k (+1.7%). During that time, the volume rose by 20%
2022: it started from 944k users and ended with 966k (+2.3%). But the volume dropped by 4%.
2023: The drop was in 0.1%, while volume fell by 13%
5/ Rainbow chart
One of the charts that shows the situation with Bitcoin investing the best.
2021: HODL phase
2022: Basically, a fire sale
2023: Bit
coin is dead
And now we have a buy stage. Is it a sign?
#bitcoin #BTC #ETH #Binance #BNB
