- Let’s look at April results in the crypto market
- And the historical data for May
April was a tumultuous month in the crypto world. It will be remembered for bank panics, new U.S. crackdowns, high-profile scams and unfounded rumors.
Such news from time to time lowered 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%.
Cryptocurrency market capitalization has hovered around the $1.18 trillion mark for a week in a row. Other important metrics Monday:
- Bitcoin $28,513.44 (↓2.60%);
- Fear and Greed Index – 63 (greed);
- Domination – 46.80%;
- Trading volume in 24 hours – $18.7 billion.
In the past week bitcoin fell below the $27k mark several times. Experts reiterate that uncertainty with U.S. regulators and geopolitical tensions continue to weigh on the cryptocurrency market.
Historical data for May
Historically, May was a capricious month for bitcoin. It went green seven times and red five times.
If we add (and subtract) all the May results together, the price of BTC rose by 274% in those months.
That’s an average of 22.85% for the month. Higher averages were only in November, April and October.
May 2021 and 2022, however, proved to be “black swans” for BTC. This was due to exceptional cases.
In May 2021, China banned bitcoin mining, and Tesla abandoned plans to introduce cryptopay.
Last May brought the collapse of Terra Luna and then the fall of many crypto projects.