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Bitcoin, after rising sharply in the first two months of the year, lost momentum this March.
Bitcoin price, up almost 500% since the most recent bull run that started in October, climbed to an all-time high with a price of approximately $ 61,000 per Bitcoin on March 13 but after that, the cryptocurrency The top operator re-tested the area it was in during January and early February.
Now, according to historical bitcoin price data showing the losses in March are often recovered in April, this is giving Bitcoin investors and traders a feeling of optimism.
Danny Scott, chief executive of Bitcoin and crypto exchange CoinCorner said:
As with any month, bitcoin’s potential price outlook can be broken down into a number of different processes.
The time of year can be a factor, and April is always the highlight, as it is the end of the tax year in the UK and US.
Analysis of price data over the past ten years shows Bitcoin’s average gain in April was 51%, according to Scott. If this happens again it means the top crypto asset will end April 2021 above $ 80,000.
Only two of April have shown negative levels since Bitcoin appeared – in 2014 (-6%) and 2015 (-4%), with May followed by only two negative months – 2015 ( -1%) and 2018 (-18%) – so there might be some motivation from this.
Scott also notes that these negative months appear during the Bitcoin bear market (2015, 2018).
According to Scott: “Right now, we are in a bull run with steady growth every week,” and he points out famous billionaires like Tesla’s Elon Musk and Twitter’s Jack Dorsey are backing Bitcoin. Along with that, the Wall Street giants have launched Bitcoin-related services and countries around the world continue to print more fiat money due to the effects of the COVID-19 epidemic.
However, besides this, many people believe that the strong activity of Bitcoin every April is just a coincidence.
Bobby Ong, chief executive at bitcoin and cryptocurrency price data site CoinGecko, said:
I don’t really have a good reason [cho lý do tại sao bitcoin tăng cao trong lịch sử vào tháng 4]. Perhaps the only thing I can think of is that Bitcoin historically tended to underperform in March, so April saw a rebound in price.
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