As April begins, Bitcoin is trading at $69,650, down slightly from its mid-March high of $73,750. All eyes are on the horizon with ETF approval and a BTC halving event suggesting a potential rally to an average peak value of $87,875 by the end of the year.
But amidst these predictions, one question looms large. Will April bring exhilarating highs or the familiar roller coaster ride for crypto enthusiasts?
April story
Zia Ul Haq, a well-known crypto coach who is also known as the “Oracle of Cryptocurrency,” points out an interesting trend. April often emerges like a phoenix from the ashes of March, with Bitcoin gaining an average of 14.2%.
His analysis spanning 2013 to 2024 suggests that April could be the antidote to Bitcoin’s recent dip below $70,000.
What is the driving force behind Bitcoin?
2024 has been a remarkable year for Bitcoin prices, surging over 150% in the past 12 months. The king of cryptocurrencies outperformed heavyweights such as Nifty50 and Gold, which posted gains of around 30% and 11%, respectively. In January 2024, the Securities and Exchange Commission approved a Bitcoin ETF, giving 11 fund managers the green light to list their funds. Bitcoin price has doubled in the past six months, suggesting a strong upward trend in 2024.
Bitcoin ETFs were approved by the Securities and Exchange Commission in January 2024, and the value of Bitcoin doubled in six months, indicating a clear upward trend in 2024.
Read more: Will Bitcoin halving start a bull market? Main targets to watch in BTC price
Light of hope
The Bitcoin halving event is scheduled for April 2024, and excitement is growing among cryptocurrency fans. The event, which is expected to halve daily new Bitcoin inflows to 450, promises to recalibrate supply and demand dynamics, setting the stage for a potential fireworks display in 2025.
Bitcoin looks poised for sustained growth as institutional investor interest grows and Bitcoin-related financial services proliferate.
Prepare for half-life effects
In March 2024, Bitcoin hit a new all-time high of $73,350 before falling. However, Zia-ul-Haq's optimism about the April and April 22 halvings has sent Bitcoin prices to new heights, with signs pointing to a pre-halving surge.
Despite the rollercoaster, one thing remains certain. That said, Bitcoin's April journey won't be boring at all, and it's geared up for new victories and unexpected challenges.
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