Bitcoin experienced significant volatility in the second quarter of 2024, with a notable decline in price. This report delves into the quarterly and monthly returns, comparing them to previous years and analysing the data for a clearer understanding of performance.
Second Quarter (Q2) 2024: A Decline in Bitcoin Price
Bitcoin’s quarterly returns for Q2 2024 show a 12% decline, meaning the price at the end of June 2024 was 12% lower than at the beginning of April 2024. The closing price of Q2 2024 was $62,743, down from $71,262 in Q1 2024. This sharp decline contrasts with the same quarter in 2023, where Bitcoin saw a positive return of 7.03%.
Bitcoin Monthly Returns in 2024: A Mixed Bag
Breaking down the monthly performance in 2024, Bitcoin’s price fell by 7% in June, following an 11.1% increase in May and a 14.7% drop in April. Earlier in the year, Bitcoin enjoyed a significant rise, with returns of +16.3% in March, +44% in February, and a modest +0.87% in January.
Comparative Analysis: Year-on-Year Bitcoin Performance
Comparing year-on-year performance, Bitcoin’s Q2 2024 decline stands out against its q2 2023 return of +7.03%. Despite the recent dip, Bitcoin’s six-month price change remains positive at +42.4%, highlighting its strong performance in the first half of the year. The three-month price change, however, shows a -9.92% decline as of July 1, 2024.
Bitcoin Historical Performance: Average Monthly Returns
Looking at historical data from 2011 to 2024, Bitcoin’s average monthly returns highlight interesting trends. June typically sees an average return of +7.91%, while May averages +20%, and April a robust +34.7%. March and February also show positive averages at +11.8% and +16.6%, respectively, with January averaging +9.78%.
In conclusion, Bitcoin’s performance in Q2 2024 illustrates the cryptocurrency’s inherent volatility. While the recent quarter showed a notable decline, historical and early 2024 data reveal periods of significant growth.
Read Also: Sony Steps Into Crypto Arena with Amber Japan Acquisition
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed