Investigating the price performance of Bitcoin in April of the last 10 years; The best month in the first half of the year

Bitcoin and the US stock market have entered one of their strongest historical periods in terms of returns; But apart from the historical figures, does April this year come with drivers for market growth?

To Report Coin Desk, according to the data available on the Matrixport platform, the price of Bitcoin has been on an upward trend for 6 of the last 10 years in April, and the average return of this digital currency during this month was more than 17%. During the last 10 years, the return of April Bitcoin has been the highest compared to other months of the first half of the year and the third most profitable month in the whole year.

The “S&P500” stock market index also grew by 2.6% on average in April of the last 10 years and has been bullish in 8 of the 10 months in question.

Markus Thielen, Senior Director of Research and Strategy at MatrixSport Group says:

The recent jump in the US stock market could have a seemingly unrelated effect on cryptocurrencies. Especially now that we have entered the month of April; The month which is considered a bullish period for the US stock market (with an average growth of 2.6% S&P500 and 2.9% Nasdaq), Bitcoin (with an average growth of 17%) and Ethereum (with an average growth of 46%). Our big hypothesis for 2023, deflation, is now underway. [با ادامه این روند] All risky assets will grow.

Bitcoin experienced a 23% growth in March and increased its return to 67% since the beginning of this year. The S&P500 stock market index has experienced a 7% growth since the beginning of this year.

On Friday, the US PCE inflation index was published, which showed that the rate of growth of this measure decreased in February; An event that has increased investors’ hopes for the withdrawal of the US central bank from its contractionary monetary policies.