Bitcoin shows historically the longest monthly growth

The flagship of the cryptocurrency market is showing the longest streak of monthly growth since 2021. According to analysts, BTC $56,536.26 Bitcoin -2.88% Market capitalization $1.11 trillion VOL. 24 hours $4.57 billion has managed to finish the fourth month in a row with growth.

At the time of writing, bitcoin is showing a slight increase of 0.2% per hour, and over the past 7 days, the token has risen by 3.7%. As for the day’s performance, BTC fell by 2.2%, currently trading at $ 28,638.

On Sunday, April 30, the price of BTC was as high as $ 30,000, which is lower than the peak of April 14 at $ 31,000. Historical retrospective shows that after 4 consecutive months of bitcoin growth, the following year the market leader rose by 260%. If this trend continues this time, bitcoin will cost about $ 105,000 in 12 months.

More and more investors are considering bitcoin as a means of preserving capital. «The recent crisis in the US banking sector has helped to restore the use of bitcoin as a decentralized, reliable, and scarce digital asset,» said Jeff Kendrick, Head of Cryptocurrency Trading and EM FX West at Standard Chartered.

According to Arthur Hayes, co-founder of BitMEX, BTC has every chance of becoming the world’s reserve currency. Hayes predicted that the Federal Reserve and the US government will try to maintain the dominant position of the US currency, but they will not be able to stop the process of its weakening. «Over the past year, the dollar’s use in the global economy has declined. Asian and Latin American countries are entering into agreements with China and India on mutual settlements in national currencies,» the analyst emphasized.