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Last quarter was one of the best for Bitcoin

Jan 4, 2021 Forex News

According to data provided by the Skew team, the price of Bitcoin increased by 168% in the fourth quarter of 2020. If we analyze the history of Bitcoin over the years, by the way, yesterday Bitcoin celebrated its twelfth anniversary, then 2017 was the most successful year for Bitcoin. In the fourth quarter of 2017, the price of Bitcoin increased by 210%. This was the highest rate. The last quarter of last year ranked second in terms of performance for Bitcoin. Although, judging by the beginning of this year, this quarter can be the most productive for Bitcoin.

Bitcoin started in 2021 with a sharp rise. During the first three days of the new year, Bitcoin showed upward movement dynamics. As a result, on January 3, the BTC rate peaked at $34800 on Bitstamp. After that, the price began a correction and today even dropped to $27734. The pair of BTC/USD is currently trading at around $31200. Bitcoin capitalization exceeds $600 billion.

Skew analysts also pointed to a sharp exacerbation of volatility in the crypto market in the early days of January. This trend suggests that the chances of a breakout and a collapse are now roughly equal.

Willie Wu is optimistic. He believes BTC is set to renew highs in the long term. Moreover, the price of Bitcoin cryptocurrency can reach $100000 or even exceed this level.

Now the average profitability of traders is the highest since June 2019. The market is clearly under the control of bulls, Santiment said in its survey.