📊 Wondering about Bitcoin's August performance? Let's dive into the numbers from 2021 to 2023 to understand the trends and what they might mean for 2024!
1️⃣ **The Drop**: From 2021 to 2023, August has seen varied performances:
- **2021**: Started at $41,460 and ended at $47,160 (+13%)
- **2022**: Started at $23,300 and ended at $20,000 (-15%)
- **2023**: Started at $29,200 and ended at $25,900 (-12%)
On average, Bitcoin has historically shown a -5% change during August.
2️⃣ **Inflow and Outflow**: The flow of funds has been intriguing:
- **2021**: Inflow of +$308.48M
- **2022**: Outflow of -$407.33M
- **2023**: Outflow of -$789.33M
3️⃣ **Active Users and Volume**: User engagement and trading volume have seen fluctuations:
- **2021**: Started with 909k active users, ended with 925k (+1.7%), with a 20% rise in volume.
- **2022**: Started with 944k active users, ended with 966k (+2.3%), but volume dropped by 4%.
- **2023**: Minimal change in active users (+0.1%), with a 13% drop in volume.
4️⃣ **Rainbow Chart Insights**: Reflecting investor sentiment:
- **2021**: HODL phase
- **2022**: Fire sale
- **2023**: Bitcoin is dead
Now in a buy stage—could this indicate a turnaround?
🔍 Stats show August as historically challenging for Bitcoin, but each year brings new dynamics. What do you think will happen in August 2024? Share your thoughts! 📈💬
