Bitcoin Prices Starts To Rally to 20K today

It’s been a hazy start to 4 seasons for bitcoin, but here comes sunshine. After shedding $119 billion-plus by reviewing the market cap in Q1 amid pressure from regulators as well as the cold shoulder from advertising platforms, the bitcoin costs are ready for any rebound. Plus it appears the celebrities are starting to align with the to occur within the second quarter. CNBC’s Brian Kelly outlined the drivers of the bitcoin price for that new quarter, and we’ve added to them.

US Tax Season’s Nearly Over
April 15 marks no more tax season in the us, and it’s just around the corner. Investors who profited from bitcoin’s massive rally in December are having to get the bucks to pay for Uncle Sam now, which could explain a part of the selling pressure in the bitcoin price in March. Kelly noted that any “tax-related selling” that’s been happening in March will probably end in a nothing but a week. (Separately, Kelly also noted that this blockbuster $2 billion Telegram ICO might have attracted investments away from BTC.)

Coincheck Offer Sight
As CCN previously reported, Japan’s Coincheck might be in your area. Multiple available but the potential buyer, online brokerage Monex Group, could be the parent company of US-based TradeStation (with massive data and charting capabilities) and is publicly operated.

“It’s a massive confidence boost; you now have the regulated public company in Japan buying right into a crypto exchange,” Brian Kelly, CEO of BK Capital Management, told CNBC.

Kelly added that “massive, massive sentiment shift.”

History Is on Bitcoin’s Side
Unless you were thinking about buying the dip, March was tough to look for bitcoin investors. But although bitcoin price suffered, the performance only proves that history repeats itself. March is historically a dismal month for your leading cryptocurrency, “rising only 1 in the last seven years [in 2013],” as per Fundstrat data.

That’s nice thing about it for April because historically, this can be among the best trading months for your bitcoin price, “rising five of the last seven years,” Fundstrat says.

Other Tailwinds
The forces for bitcoin are stronger as opposed to forces against it. While these three drivers in the bitcoin price appear imminent, there might be others. For instance, major bitcoin markets around the globe such as Usa are awaiting a regulatory framework to look at contour around take the uncertainty from the equation, among other reasons. It could be the catalyst the cryptocurrency markets must drive them extraordinary.

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