Bitcoin is on track to achieve a remarkable feat, with seven consecutive months of gains, according to data from Glassnode. This streak, which began in September 2023, is only the second time in Bitcoin’s history that such a run has occurred. The first was between March and September 2012.
During these two periods, there were significant differences in the scale of value appreciation. In 2012, Bitcoin’s value surged from $4.89 to $12.37, marking a substantial increase of approximately 153%. In the recent streak, Bitcoin’s price has soared from around $27,000 to an impressive $66,000, representing a price appreciation of about 144%.
On a quarterly basis, Bitcoin has shown consistent growth, with increases of around 57% in both Q4 2023 and Q1 2024, as reported by Coinglass.
Furthermore, Bitcoin’s daily performance on March 19 and 20 mirrored the dramatic price movements seen after the FTX collapse in November 2022. These days saw Bitcoin’s largest single-day decline of 9% and its second-largest single-day gain of nearly 10% since the event.
The impressive performance of Bitcoin in recent months has caught the attention of many investors and analysts, showcasing the resilience and potential of the leading cryptocurrency in the current market environment.
