Q1 Close – Crypto Market Recap

In Q1 we saw some very bearish action for a lot of cryptocurrencies, and one of the bigger losers, Cardano (ADA), dropped around 40% during Q1, before making a recovery.

Towards the end of the quarter cryptocurrencies made significant recoveries, with Bitcoin trading back into the quarter open level. Below you can see how Bitcoin, Ethereum and Cardano performed during Q1.

Q1 Cryptocurrency performance

Given the extreme changes in the global landscape (Ukraine Invasion, economic sanctions, Covid19, etc) this is quite impressive. During the same period global stock markets took beatings and currencies experienced extreme volatility.

For Q1 Bitcoin ended the quarter down -2.12%, whereas the NASDAQ closed down -9.24%, and the China 50 closed down -12.35%. The Australia 200 (AU200) held value, closing the month at -0.99%.

Does New Quarter Mean A New Bullish Cycle For Crypto?

There were no losers in the coindesk 20 today, meaning that yesterday every single cryptocurrency in their top 20 closed bullish. Does that mean that with the new quarter we will see a bullish cycle in crypto markets?

Probably not.

I, like everyone else that holds crypto and believes in the technological uses would love to see cryptocurrencies make gains, however this movement will likely be shortlived.

It is quite common for markets to have a rally at the start of a new quarter, year, or other calendar period.

My Favourite Crypto For Q2

My favourite cryptocurrency for Q2 is Biswap (BSW). Biswap is the first DEX on BNB chain with a three type referral system. They offer profitable yield farming and exchanging with the lowesr fees in the DeFi space.

They have recently launched on Binance, where you can stake the tokens for up to 143% per anum. That’s a jaw dropping return for cryptocurrency staking.

BSW/USDT 1H chart.

Published by Tom Stewart

Head of data analytics at TradeProofer. Analyst at Opes Trading Group. FX enthusiast.

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