As April dawns, Bitcoin stands at $69,650 USD, a slight dip from its mid-March high of $73,750. Eyes are fixed on the horizon, where ETF approvals and an upcoming BTC halving event hint at a potential climb to an average peak of $87,875 by year’s end.
But amidst these projections, one question looms large: Will April bring exhilarating highs or the familiar roller coaster ride for crypto fans?
The April Story
Renowned crypto coach Zia Ul Haque, often dubbed the “Oracle of Cryptocurrency,” points out an intriguing trend: April often emerges as a phoenix from March’s ashes, boasting an average Bitcoin gain of 14.2%.
His analysis spanning 2013 to 2024 suggests April could be the antidote to Bitcoin’s recent dip below the $70,000 mark.
What’s Fueling Bitcoin?
The fiscal year 2024 has been a remarkable one for Bitcoin price as it surged over 150% in the past twelve months. The king of cryptocurrency outshined stalwarts like Nifty50 and Gold, which saw gains of about 30% and 11%, respectively. In January 2024, the Securities and Exchange Commission approved Bitcoin ETFs, by giving 11 fund managers the green signal to list funds. The price of Bitcoin has doubled in the past six months, suggesting a robust uptrend in 2024.
The green light from the Securities and Exchange Commission in January 2024, allowing Bitcoin ETFs, spurred a doubling of Bitcoin’s value in six months, indicating a clear upward trend in 2024.
Read More: Bitcoin Halving to Trigger a Bull Run? Key Targets to Watch for BTC Price
A Glimmer of Hope
With the Bitcoin halving event set for April 2024, excitement brews among crypto fans. Expected to halve the daily influx of new Bitcoins to 450, the event promises a recalibration of supply and demand dynamics, setting the stage for potential fireworks in FY 2025.
As institutional interest surges and Bitcoin-related financial services proliferate, Bitcoin seems poised for sustained growth.
Prepping for the Halving Impact
March 2024 witnessed Bitcoin hitting a fresh all-time high of $73,350 before dipping. Yet, with Zia Ul Haque’s optimism for April and the upcoming halving on April 22, signs point to a pre-halving surge, propelling Bitcoin’s price to new heights.
Despite the rollercoaster, one thing remains certain: Bitcoin’s April journey promises to be far from dull, and is poised for new victories and unforeseen challenges.
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