Analyst: Bitcoin is expected to achieve a consecutive fifth-month increase in January 2024

Cryptocurrency analyst Gamza Khanzadaev wrote that with the arrival of January, Bitcoin is expected to achieve an increase for the fifth consecutive month in January 2024. Data from CryptoRank shows that since 2011, the average return rate of Bitcoin has remained at 10.5%, with a median return rate of 9.93%. Looking back over the past 13 years, Bitcoin has only experienced negative price fluctuations five times in the first month, and all others have closed higher. It is worth noting that the last time there was negative growth was in 2022, with a decrease of 16.9% compared to the previous month. In contrast, January 2023 became one of Bitcoin's most successful months, with an increase of nearly 40%, second only to early 2013. If Bitcoin ends positively in January 2024, it will mark the fifth consecutive month of increases and continue the upward momentum that began in September of the previous year. Among them, October performed outstandingly with a surge as high as 28.5%, creating its best quarter for rising ability in nearly three years and ultimately reaching an impressive figure of 57.7%.