Rally

Bitcoin

April

The flagship cryptocurrency, Bitcoin price is poised for a potential surge in April, according to insights shared by a prominent crypto market analyst. Notably, the analyst has cited historical patterns to predict the potential surge in BTC price. 
Meanwhile, with historical data indicating a strong correlation between April and positive Bitcoin returns, investors are eyeing the coming month with anticipation amid a backdrop of market volatility and optimism. 
<h2 id="top-analyst-anticipates-bitcoin-rally-in-april">Top Analyst Anticipates Bitcoin Rally In April</h2> 
10X Research CEO Markus Thielen has recently shared an analysis on the X platform, suggesting a potential rally in Bitcoin price. Notably, the analysis sheds light on Bitcoin’s historical performance in April, suggesting a potential 12% rally for the cryptocurrency. 
Drawing from past trends, Thielen highlights April’s tendency to yield positive returns for <a href="https://coingape.com/glossary/bitcoin/" target="_blank" rel="noopener">Bitcoin</a>, with six out of the last ten years recording notable upticks in price. Despite recent volatility in the crypto market, characterized by fluctuations in Bitcoin’s price, analysts remain optimistic about the cryptocurrency’s trajectory. 
<figure style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" src="https://pbs.twimg.com/media/GJ0rrotbQAAAto1?format=jpg&amp;name=small" alt="Bitcoin April Performance" width="755" height="344">
 <figcaption class="wp-caption-text">
 Source: 10X Research, X
 </figcaption>
</figure> 
Meanwhile, several analysts have attributed the ongoing volatility in Bitcoin price as part of the pre-halving phase. According to analysts like <a href="https://coingape.com/bitcoin-halving-analyst-unveils-key-phases-potential-btc-price-momentum/" target="_blank" rel="noopener">Rekt Capital</a>, the pre-halving retracement phenomenon, observed in historical data, underscores the inherent volatility surrounding Bitcoin, often preceding significant price movements. 
Moreover, the anticipation surrounding the upcoming <a href="https://coingape.com/glossary/bitcoin-halving/" target="_blank" rel="noopener">Bitcoin Halving</a> event adds to the market’s bullish sentiment. However, while historical data indicates a tendency for Bitcoin to rally post-halving, analysts caution against relying solely on past performance to predict future outcomes, emphasizing the unpredictable nature of the crypto market. 
Also Read: <a href="https://coingape.com/trending/vechain-price-top-reasons-why-vechain-is-trending/" target="_blank" rel="noopener">VeChain Price- Top Reasons Why VeChain Is Trending</a> 
<h2 id="market-confidence-boosted-by-etf-inflows">Market Confidence Boosted By ETF Inflows</h2> 
Amid speculation over Bitcoin’s April rally, market confidence receives a boost from robust inflows into the <a href="https://coingape.com/bitcoin-etf-inflows-jump-back-above-400-million-fidelity-leads/" target="_blank" rel="noopener">U.S. Spot Bitcoin ETF</a>. The growing interest in Bitcoin investment vehicles reflects a broader acceptance of cryptocurrencies among institutional investors, further solidifying Bitcoin’s position as a mainstream asset class. 
Concurrently, the decline in outflows from <a href="https://coingape.com/bitcoin-etf-gbtc-outflows-at-monthly-low-btc-relief-rally-ahead/" target="_blank" rel="noopener">Grayscale’s GBTC</a> signals a shift in investor sentiment, with market participants expressing renewed confidence in Bitcoin’s long-term potential. As Bitcoin price continues to capture the attention of both retail and institutional investors, the stage is set for a dynamic month ahead, with April potentially marking another chapter in Bitcoin’s storied 
Meanwhile, as of writing, the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin price</a> plunged 1.24% to $69,959.56, with its trading volume from yesterday dropping 27.14% to $30.87 billion. Notably, the crypto has touched a high of $71,546.02 and a low of $69,725.77 in the last 24 hours. 
<figure id="attachment_188612" aria-describedby="caption-attachment-188612" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-188612" src="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-29-03-24.png" alt="Bitcoin Price" width="751" height="523" srcset="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-29-03-24.png 1007w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-29-03-24-300x209.png 300w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-29-03-24-768x535.png 768w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-29-03-24-150x105.png 150w" sizes="(max-width: 751px) 100vw, 751px">
 <figcaption id="caption-attachment-188612" class="wp-caption-text">
 Bitcoin Price
 </figcaption>
</figure> 
Also Read: <a href="https://coingape.com/fetch-ai-fet-price-rally-to-continue-as-open-interest-points-upwards/" target="_blank" rel="noopener">Fetch AI (FET) Price Rally to Continue As Open Interest Points Upwards</a> 
The post <a href="https://coingape.com/bitcoin-price-likely-rally-12-april-top-analyst-predicts/">Bitcoin Price Likely To Rally 12% In April, Top Analyst Predicts</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Bitcoin Price Likely To Rally 12% In April, Top Analyst Predicts

Table of Contents

Coingape News Media

Other articles published on Mar 29, 2024

Bitget Welcomes NUB (NUB) to its Platform: A New Meme Coin on Solana (29 Mar)

Shiba Inu Coin Suffers Price Drop as Major Holder Relocates Billions of Tokens

CCTF DAO Announces VIP Networking Event With Top Web3 Hackers In Polkadot Partnership

A new Error of AI-driven Attention Mechanisms that Streamline Cancer Pathology Reporting

Profit Potential: Shiba Inu, Solana (SOL), or Furrever Token (FURR) – Assessing ROI Performance

Solana Meme Slothana ($SLOTH) Raises $2.5M Within 72 Hours

Join our free newsletter for daily crypto updates!