Helloooooo out there, in the world of all things Bitcoin and Crypto!
My name is Trevor and in this video, I will be explaining how my Historical Monthly Data Chart works and how it can benefit you!
Back in 2017, a random user online had posted a very similar chart to the one you see me updating every month here.
After that, no one ever heard from this person ever again and it became virtually extinct for quite some time.
Fast forward to 2019, I realized how helpful this old chart was but was disappointed to find that literally no one had been using it!
So I thought to myself, "Why not just make my own?"
Using the old chart, I revived and updated it with all of today's current price information using mainly CoinMarketCap and CoinGecko's Historical Data.
Since that time I have taken on the task of continuing to update this chart every single month for anyone interested in using it.
Now that you have the quick backstory, you might be asking yourself, "Well how do I use it, Trevor?"
As you can see by looking at the chart it is tracking both the Open and Closing price of Bitcoin for the month!
Breaking that down a little bit more for us, on the 1st of every month we get the Closing price for the previous month.
This Closing price for the last day of a month also becomes the Opening price for the following month after.
To get the Open and Close prices we can use the Historical Data presented to us by a place like CoinMarketCap or CoinGecko.
Once the official numbers are in for the month, this chart gets updated to reflect whatever is going on with Bitcoin's price.
Now depending on whether the month Closed above or below its Opening price, we can determine whether we had a good month or not!
If the Closing price ends higher than when it Opened then that month means the price did good and we have a Green month.
If the Closing price ends up lower than the Opening price, that means the price performed negatively and the month is colored Red.
By keeping track of which months are Green or Red we can easily determine patterns to get more insight into the next month ahead.
Do you see 2 or 3 months in the red?
If so, you know that next month has a higher likelihood of finishing green and can decide whether or not to trade it.
The opposite is also true!
Maybe you see too many green months in a row and decide that it might be time to sell before we get hit with another red month.
So unlike traditional charts with confusing bars and lines everywhere.
This chart helps us take a step back and look at the overall price action!
Using this chart faithfully helps encourage patience and relieves stress when it comes to deciding when to invest.
By escaping the noise with this chart you can make smarter moves regarding your investment strategy.
As one person has pointed out in past posts about this chart.
Trading off this chart alone on the first of every month would have already netted you positive gains while almost completely taking out all of the hard thinking that goes into Bitcoin.
So this chart not only helps you save and make more money...
It also saves you time and energy which is extremely valuable!
You could have a full-time job and would only really need to check this chart once or twice a month to determine what your next move is.
Then go on with your regular day-to-day living without needing to worry about your portfolio as often.
Or maybe you are brand new to the crypto-sphere and having trouble deciding when to jump in?
By looking at this chart you find that you're currently in a Red month and can take an awesome starting position.
On the flip side maybe you see that things have been Green for a while so it might be smarter to stay on the sidelines a little bit longer.
Whoever or wherever you may be in your decision-making process, the Monthly Bitcoin Historical Data Chart works for everyone!
Even better, not only does it work great with Bitcoin, but it works great with other things as well like Ethereum for instance.
The chart is very simple to create yourself too!
So maybe you want to track something other than Bitcoin or Ethereum?
Fire up your favorite spreadsheet program, take the time to plug in the historical numbers, and wallah!
You got yourself a super handy tool personalized to your own portfolio.
Feel free to create your own if you would like to!
If you're a fan of Bitcoin or Ethereum and willing to check back here every month.
I will continue to update both my Bitcoin and Ethereum Historical Monthly Data Charts.
Set your reminders to check back here on the 1st of every month to get the latest information and updated prices to help you in your crypto journey!
I know this will help others as much as it has helped me over the years and the best part is?
IT'S FREE ADVICE!
Thanks so much for stopping by to check out this video explaining Bitcoin's Historical Monthly Data Chart!
Please be sure to subscribe or follow me wherever your heart desires and I hope YOU have another BEAUTIFUL day in crypto!
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