Quick Take
- Bitcoin has had another positive month, a fourth consecutive green month, according to Coinglass data as of April 28.
- The last time this occurred was in 2019, emerging from the bear market depths and producing five consecutive green months from February to June.
- Similarities occur between this bear market and 2019, so hopefully see another green month.
- Looking forward to May; the last two years have been extremely bearish. In May 2021, we had the China mining ban, and May 2022 was the start of the collapse of Terra Luna.
- In April, we did get one of the worst daily performances from Bitcoin, registering a -5.225%—the worst daily performance since SVB collapse and FTX collapse.
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