Bitcoin has posted its best-performing month in a year, prompting analysts to forecast what could lie ahead for May, which has historically delivered returns of about 8%.
“Long way to go back to ATHs, but good to see some green,” Coin Bureau founder Nic Puckrin said in an X post on Friday, referring to Bitcoin’s ($BTC) performance during the month of April, which saw a monthly return of 11.87%.
It marked Bitcoin’s best-performing month since April 2025, when it returned 14.08%. However, it still came in slightly below its historical April average of 12.98%, according to CoinGlass.
Bitcoin has historically delivered an average return of 7.78% in May. Source: CoinGlass
“April is done. May is here. After 5 consecutive red monthly candles, Bitcoin has now closed 2 in the green, causing some relief in the market,” crypto trader Daan Crypto Trades said in an X post on Friday.
Market participants hold the belief that history repeats
Market participants often compare current monthly performance with previous months and look ahead, as many believe Bitcoin’s history tends to repeat itself.
Bitcoin is trading at $78,190, about 38% down from its October all-time high of $125,100, according to CoinMarketCap. Crypto analyst Jelle said, “We hit the ground running again next week.”
Bitcoin started April at around $66,000. Source: CoinMarketCap
Market participants appear uncertain about the crypto market, according to the Crypto Fear & Greed Index, which posted a “Fear” reading of 39 on Friday, suggesting investors are still cautious.
Bitcoin analysts are divided on what comes next
Analysts are divided on Bitcoin’s near-term outlook. Crypto analytics firm CryptoQuant warned that Bitcoin could be setting up for a multi-month price decline after a rally in April driven mainly by futures traders.
Related: Bitcoin rally extends, yet $BTC options price only 25% chance of $84K in May
Others are more bullish. MN Trading Capital founder Michael van de Poppe recently said that Bitcoin may not need a new story or catalyst to push back above the psychological $100,000 level, which it has not traded above in nearly five months.
“There doesn’t need to be a narrative that pushes the price upwards,” van de Poppe said in an X post on Friday, after asking, “What narrative will bring Bitcoin to $100K?”
The last time Bitcoin traded at $100,000 was Nov. 13, just a month after the Oct. 10 $19 billion crypto market liquidation event.
Magazine: Why is Ethereum Foundation selling? $BTC futures warning signs: Market Moves
Leave a Reply
You must be logged in to post a comment.