While Bitcoin is Preparing to Break a New Record in Its History, What Do Historical Data Say for March?

With its impressive rally, Bitcoin's ATH, which was seen in November 2021, blinked to $ 69,000 and broke new records.

At this point, Bitcoin closed its 6th consecutive monthly candle in green. If Bitcoin loses March with a green candle, it will be the first 7-month green candle series in $BTC history.

While $BTC closed February with a 47% increase, Glassnode analyst, who uses the nickname Checkmate, stated that Bitcoin experienced the biggest increase in dollar terms.

” Unreal…

In February 2024, Bitcoin printed a candle of $19.84K, the largest monthly US dollar gain in history.”

This added $390 Billion to Bitcoin market value…

“In percentage terms, there was a remarkable increase of 47%.”

The analyst then pointed out that this post was just a data sharing about $BTC and said that this post was not a prediction or evaluation of what will happen next in $BTC.

Unreal…Feb 2024 printed a $19.84k #Bitcoin candle, the largest monthly USD increase in history.

This added $390B to the #Bitcoin market cap…

Up a remarkable 47%. pic.twitter.com/bCXeKd9Uot

— _Checkɱate 🟠🔑⚡☢️🛢️ (@_Checkmatey_) March 1, 2024

Bitcoin has demonstrated its strongest performance since December 2020. Historically, February has once again proven to be a strong month for $BTC.

While all eyes are now on March for $BTC, according to Coinglass data, there is no stable situation for Bitcoin in March. Because $BTC, which closed the month of March 2023 in green with an increase of 172%, closed five consecutive years with a red candle in 2014, 2015, 2016, 2017 and 2018.

Afterwards, $BTC broke the red candle series and closed March 2019 with a green candle, and closed again with a red candle in 2020.

We will be following what path Bitcoin will follow in 2024, having closed the months of March 2021, 2022 and 2023 with a green candle in the last three years.

*This is not investment advice.