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I just reviewed the Q1 returns and honestly, it was quite tough for crypto. Bitcoin closed the first quarter at -23.21%, which honestly isn't what I expected to see. Ethereum was even worse in Q1, dropping -32.17%.
What's interesting is to see how these numbers compare to the historical data. Usually, Bitcoin averages a 45.90% gain in Q1, so this -23.21% is quite far from that. Something similar happens with Ethereum, whose historical average in Q1 is around 66.45%, but this year it ended in negative territory.
According to Coinglass, Bitcoin records the third worst quarterly performance since 2013, while Ethereum marks the third worst since 2016. Definitely, this year's Q1 was one of those quarters we prefer to forget. It's interesting to see how cycles in crypto change.