Bullish or bear? A closer look at Bitcoin's historical performance in March

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After a ultimately flat February, eager investors are curious: What can expect the price of Bitcoin this March?

Here is a look at how Bitcoin has developed every March in the past 12 years. On average, the price of the financial value has increased by 10 % each time.

Bitcoin, March and the halving

In its beginnings, March was not a particularly bullish month for BTC. In 2011, cryptocurrency fell by 8.2 % to just $ 0.79 and moved by 0 % in March of the following year.

However, things changed in 2013 when Bitcoin was $ 92.19-a rich increase of 176.2 % since the beginning of the month. This happened five months after Bitcoins of the very first Halification in November 2012.

"Halfung" refers to when the edition of Bitcoin per block is halved every 210,000 blocks, about every 4 years. This leads to an offer crisis that has triggered a large interest bully price dynamics for Bitcoin every time it occurs.

The next five years marked a return to the Baisse. From 2014 to 2018, Bitcoin fell by 16.9 %, 4 %, 4.8 %, 9.2 %and 32.8 %in every successive year - the latter has been the worst March for Bitcoin since the start of the recordings. As in 2013, Bitcoin's decline in March 2018 corresponded to the halving cycle, just a year after Bitcoin's timely bull market in 2017.

While Bitcoin experienced a certain breathing while in March 2019 with an increase of 7.4 %, March 2020 opposed the halving plan. Bitcoin crashed by 24.8 %-largely a reaction to " black Thursday ", as stocks and crypto due to growing panic around the rapidly spreading coronavirus. Bitcoin fell over 50 % on March 12, from over $ 8000 to less than $ 4,000.

The third halving of Bitcoin was two months later and contributed to driving the March rally in the following two years, including 30.2 % and 5.4 % increases in 2021 and 2022.

What's next?

recent analyzes of Cryptoquant indicate that Bitcoin could be exposed to a certain sales pressure at short notice, which comes from a combination of whales and miners.

In particular the amount of Bitcoin that have sent both groups to the stock exchanges, this week-a generally recognized sign that investors intend to liquidate their coins.

"The BTC Whale Rato metric is high for the next day on the spot exchanges and this increase is often due to large inflows," said the cryptoquant-analyst Abramchart. "This behavior can lead to sales pressure."

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