Bitcoin kicked off 2021 with its best start since 2013, nearly doubling in the first seven weeks of the year through February 21st (+98%). In fact, BTC was on pace for its best month since November 2013 through the first three weeks of February; its end-of-month selloff dragged on returns but bitcoin still put in its 5th consecutive calendar month of gains, the most since June 2019.
As we highlighted in a note just over a month ago – aptly titled “Bitcoin’s Seasonal Struggles” – bitcoin’s price tends to struggle between mid-February and late March; seemingly right on queue, BTC corrected ~21% from its recent high in the final week of February. While historical data is quite limited, BTC appears to be following a decently similar playbook, at least so far.
Price volatility for BTC also tends to pick up in March, albeit from already above-average levels compared to other c
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