In May, Historical Data Suggests Where Bitcoin’s Price Might Go

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Bitcoin has ended up in positive territory five times in May since 2013 and lost money four times.

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Following an especially terrible monthly close, in which bitcoin ended April down 17.3%, it appears to be dusting itself off.

When it comes to May, the data is a bit more mixed. For example, with historical data from Coinglass, it’s clear that it’s a rather inconsistent picture.

Bitcoin has ended the month of May in positive territory five times since 2013, with the other four years ending in negative territory.

It was a particularly terrible year for Bitcoin, too. In May 2021, Bitcoin dropped 35.3% after hitting a new all-time high of $64,000… weeks after plummeting to $30,000.

The month of May ended at a loss, with average losses at 16.5%. After a month that was positive for business, typical gains were 34.5 percent.

Bitcoin’s value could be between $32,000 and $51,000 in May. This is based on some rough calculations.

Of course, no one knows exactly what will happen to Bitcoin — and the Federal Reserve’s Open Market Committee is set to add more turmoil when it meets later this month.

The markets will soon discover whether the United States’ central bank’s economists will raise interest rates by half a percentage point, as anticipated.