After shedding $119 billion-plus from its market cap in Q1 amid pressure from regulators and the cold shoulder from advertising platforms, the bitcoin price is ready for a rebound. And it appears the stars are beginning to align for that to happen in the second quarter.
US Tax Season’s Nearly Over;
April 15 marks the end of tax season in the United States, and it’s just around the corner. Investors who profited from bitcoin’s massive rally in December are having to come up with the money to pay Uncle Sam now, which could explain a percentage of the selling pressure in the bitcoin price in March.
Coincheck Deal in Sight;
Japan’s Coincheck may be on the block. Not only is it for sale but the potential buyer, online brokerage Monex Group, is the parent company of US-based TradeStation (with massive data and charting capabilities) and is publicly traded.
History Is on Bitcoin’s Side;
Unless you were looking to buy the dip, March was difficult to watch for bitcoin investors. But even though the bitcoin price suffered, the performance only proves that history repeats itself. March is historically a dismal month for the leading cryptocurrency, “rising only one of the last seven years ,” as per Fundstrat data.
That’s good news for April because historically, this is one of the best trading months for the bitcoin price, “rising five of the last seven years,” Fundstrat says.
The forces for bitcoin are stronger than the forces against it. While these three drivers of the bitcoin price appear imminent, there could be others. For instance, major bitcoin markets around the world including the United States are awaiting a regulatory framework to take shape to take the uncertainty out of the equation, among other reasons. It could be the catalyst the cryptocurrency markets need to bring them over the top.
I thought important this article. Thanks for reading, good luck for trading:)
US Tax Season’s Nearly Over;
April 15 marks the end of tax season in the United States, and it’s just around the corner. Investors who profited from bitcoin’s massive rally in December are having to come up with the money to pay Uncle Sam now, which could explain a percentage of the selling pressure in the bitcoin price in March.
Coincheck Deal in Sight;
Japan’s Coincheck may be on the block. Not only is it for sale but the potential buyer, online brokerage Monex Group, is the parent company of US-based TradeStation (with massive data and charting capabilities) and is publicly traded.
History Is on Bitcoin’s Side;
Unless you were looking to buy the dip, March was difficult to watch for bitcoin investors. But even though the bitcoin price suffered, the performance only proves that history repeats itself. March is historically a dismal month for the leading cryptocurrency, “rising only one of the last seven years ,” as per Fundstrat data.
That’s good news for April because historically, this is one of the best trading months for the bitcoin price, “rising five of the last seven years,” Fundstrat says.
The forces for bitcoin are stronger than the forces against it. While these three drivers of the bitcoin price appear imminent, there could be others. For instance, major bitcoin markets around the world including the United States are awaiting a regulatory framework to take shape to take the uncertainty out of the equation, among other reasons. It could be the catalyst the cryptocurrency markets need to bring them over the top.
I thought important this article. Thanks for reading, good luck for trading:)