Bitcoin

After several weeks of stability, the price of Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) might expect a significant trend to the upside upon observing the historical <a href="https://finbold.com/guide/chart-patterns/" rel="noopener noreferrer nofollow">chart patterns</a> that the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset has demonstrated during Easter weekends every few years.As it happens, <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> has been stable for weeks, recording strong <a href="https://finbold.com/guide/support-and-resistance/" rel="noopener noreferrer nofollow">support</a> at $25,000, and if it manages to hold this level, a break above $35,000 is possible, but a retest and bounce would “also be ideal,” according to the Twitter post <a href="https://twitter.com/CryptoYoddha/status/1644222482646290433" rel="noopener noreferrer nofollow">shared</a> by the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> and <a href="https://finbold.com/guides/finance/" rel="noopener noreferrer nofollow">finance</a> analyst CryptoYoddha on April 7.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3aafe456a5544f1586591bc108e7a414.png" />Bitcoin price action analysis. Source: <a href="https://twitter.com/CryptoYoddha/status/1644222482646290433" rel="noopener noreferrer nofollow">CryptoYoddha</a>On top of that, according to CryptoYoddha’s chart analysis, Bitcoin could also briefly reach the $48,000 level in May or June before correcting to $25,000 in late 2023 and again soaring beyond the previous critical level and toward $90,000 in April 2024.<h2 id="header-0">Easter bull?</h2>It should also be noted that the maiden <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> has followed a pattern of recovery from a heavy <a href="https://finbold.com/guide/bear-market-definition/" rel="noopener noreferrer nofollow">bear market</a> every three or four years and that Easter has typically been a starting point for a <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> run in the following weeks, as <a href="https://twitter.com/StockmoneyL/status/1644273094263988224" rel="noopener noreferrer nofollow">observed</a> by another pseudonymous <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">crypto market</a> analyst, Stockmoney Lizards, on April 7.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ff2871371009426eb225162fc3b421ca.png" />Bitcoin historical patterns. Source: <a href="https://twitter.com/StockmoneyL/status/1644273094263988224" rel="noopener noreferrer nofollow">Stockmoney Lizards</a>Indeed, such behavior took place in the weeks following Easter in 2012, when Bitcoin soared 225.33%, in 2016, when it improved by 94.83%, and in 2019, when the crypto industry representative gained 167.88% to its price, with the analyst expecting Bitcoin to move toward $40,000 in late May.<h2 id="header-1">Bitcoin price analysis</h2>As things stand, Bitcoin is currently changing hands at $27,945. Its price represents an increase of 0.03% on the day but also a minor decrease of 0.34% across the past week and a growth of 25.78% on its monthly chart, according to the latest data retrieved on April 7.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/c2c62500a35f4099a832077cc1edf3b4.png" />Bitcoin 30-day price chart. Source: <a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">Finbold</a>Meanwhile, Bitcoin has been demonstrating strength against traditional assets since the year’s turn, recording a return on investment (ROI) that was 170.32% higher during the first quarter of 2023, compared to the average of five major <a href="https://finbold.com/category/stocks-news/" rel="noopener noreferrer nofollow">stock</a> indexes, as Finbold <a href="https://finbold.com/bitcoin-vs-indexes-q1-2023/" rel="noopener noreferrer nofollow">reported</a> on April 6.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Will Easter trigger a Bitcoin price surge after weeks of stability?

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