• According to Daan Crypto, January has historically not been Bitcoin’s „best month“ as 60% of the months since 2013 have resulted in a negative return.
• February has been BTC’s best ‚returning‘ month.
• Data is not a reliable indicator for future returns.
The price of bitcoin had already dropped significantly in 2022 before the abrupt failure of the trading site FTX last month. After a lackluster 2022, all eyes are on Bitcoin as it enters 2023 with high expectations. Bitcoin enthusiasts are looking to the future with hope, with the digital currency in a prime position to make a comeback.
One of the most important figures in the crypto world, Daan Crypto, recently weighed in on the prospects for Bitcoin in the new year. According to him, January has historically not been Bitcoin’s „best month,“ as 60% of the months since 2013 have resulted in a negative return. Moreover, the percentage change on average in January is quite large, both up and down.
However, Daan Crypto also offered some hope, revealing that February has been BTC’s best ‚returning‘ month. This data is not a reliable indicator for future returns, however, and should be used with caution. With this in mind, Bitcoin could still make a comeback in the new year if February is kind to it.
Many experts remain bullish on Bitcoin in the long term, pointing to the strong fundamentals behind the digital currency. With its finite supply, decentralized nature, and growing adoption, Bitcoin is well-positioned to make a comeback in 2023. Moreover, the upcoming halving event could provide the necessary catalyst for Bitcoin to move higher.
At the same time, it is important for investors to practice caution. Cryptocurrency markets are notoriously volatile, and there is no guarantee that Bitcoin will make a comeback. As always, investors should ensure that they are only investing what they can afford to lose. With this in mind, the new year could be a game-changer for Bitcoin.