Bitcoin skilled important volatility within the second quarter of 2024, with a notable decline in worth. This report delves into the quarterly and month-to-month returns, evaluating them to earlier years and analysing the info for a clearer understanding of efficiency.
Second Quarter (Q2) 2024: A Decline in Bitcoin Worth
Bitcoin’s quarterly returns for Q2 2024 present a 12% decline, that means the worth on the finish of June 2024 was 12% decrease than originally of April 2024. The closing worth of Q2 2024 was $62,743, down from $71,262 in Q1 2024. This sharp decline contrasts with the identical quarter in 2023, the place Bitcoin noticed a optimistic return of seven.03%.
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Bitcoin Month-to-month Returns in 2024: A Blended Bag
Breaking down the month-to-month efficiency in 2024, Bitcoin’s worth fell by 7% in June, following an 11.1% improve in Could and a 14.7% drop in April. Earlier within the yr, Bitcoin loved a major rise, with returns of +16.3% in March, +44% in February, and a modest +0.87% in January.
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Comparative Evaluation: Yr-on-Yr Bitcoin Efficiency
Evaluating year-on-year efficiency, Bitcoin’s Q2 2024 decline stands out in opposition to its q2 2023 return of +7.03%. Regardless of the current dip, Bitcoin’s six-month worth change stays optimistic at +42.4%, highlighting its sturdy efficiency within the first half of the yr. The three-month worth change, nevertheless, exhibits a -9.92% decline as of July 1, 2024.
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Bitcoin Historic Efficiency: Common Month-to-month Returns
historic information from 2011 to 2024, Bitcoin’s common month-to-month returns spotlight fascinating developments. June sometimes sees a median return of +7.91%, whereas Could averages +20%, and April a strong +34.7%. March and February additionally present optimistic averages at +11.8% and +16.6%, respectively, with January averaging +9.78%.
In conclusion, Bitcoin’s efficiency in Q2 2024 illustrates the cryptocurrency’s inherent volatility. Whereas the current quarter confirmed a notable decline, historic and early 2024 information reveal durations of great development.
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