Hey Traders,
Generally April is considered a bullish month for BTC in both bull and bear markets given the past price history. I think this April will end the multi-month downtrend we have been experiencing as of late and confirm once and for all that the bottom is in and the uptrend has begun.
I expecting BTC to test the 52,000 level fairly soon. I think the first half of the month of April will be a good time to get a bounce. A notable upcoming event is the Bitcoin 2022 conference in Miami Beach, Florida.
On-chain metrics are showing a dwindling supply of BTC held by exchanges. On chain metrics are also pointing that long term hodlers are accumulating and a majority of BTC supply has not moved in over 1 year.
Do Kwon, the founder of Terra Luna, announced the projects long term plan to buy 3 billion USD of Bitcoin to underpin and hold the peg of their Algorithmic Stablecoin. Supposedly, 125 million USD in BTC has already been bought for their reserves and while there has been no official mention of the bitcoin (BTC) purchase by Terra, a Gnosis safe address reportedly owned by Terra transferred $125 million worth of USDT to Binance.
More countries, such as Malaysia and Honduras, are looking to adopt BTC and become crypto friendly.
Good Luck to All!
NFA, DYOR!
Generally April is considered a bullish month for BTC in both bull and bear markets given the past price history. I think this April will end the multi-month downtrend we have been experiencing as of late and confirm once and for all that the bottom is in and the uptrend has begun.
I expecting BTC to test the 52,000 level fairly soon. I think the first half of the month of April will be a good time to get a bounce. A notable upcoming event is the Bitcoin 2022 conference in Miami Beach, Florida.
On-chain metrics are showing a dwindling supply of BTC held by exchanges. On chain metrics are also pointing that long term hodlers are accumulating and a majority of BTC supply has not moved in over 1 year.
Do Kwon, the founder of Terra Luna, announced the projects long term plan to buy 3 billion USD of Bitcoin to underpin and hold the peg of their Algorithmic Stablecoin. Supposedly, 125 million USD in BTC has already been bought for their reserves and while there has been no official mention of the bitcoin (BTC) purchase by Terra, a Gnosis safe address reportedly owned by Terra transferred $125 million worth of USDT to Binance.
More countries, such as Malaysia and Honduras, are looking to adopt BTC and become crypto friendly.
Good Luck to All!
NFA, DYOR!