The price of Bitcoin (BTC) to date has recorded a jump of almost 500% since the bullish started last October. However, the momentum of the crypto king showed a decline in March.
At the time of writing, the price is recorded at $ 55,461, at the same time indicating the crypto market is still cloudy.
However, research on the history of bitcoin prices shows that the decline in March was usually followed by a bullish one in April, inviting investor excitement.
What the crypto sector needs to know is that April is often associated with the end of annual taxes in the United States (US) and the United Kingdom (UK). It is evidenced through the analysis of price data for the past 10 years, bitcoin recorded an average jump of 51% in April.
If that expectation really happens, the price of Bitcoin by the end of April 2021 may be able to surpass the $ 80,000 price level.
However, the positive expectations also need to be explored given that there were two negative records for April starting 2014, during which time Bitcoin declined -6% and 2015 saw a decline of -4%. The decline was then recorded in May, starting in 2015 (-1%) and 2018 (-18%).
The negative record for April and May also indicates the downtrend factor was driven by bearish markets and current industry sentiment. Indirectly, there are also concerns about the bullish by April each year because it is not impossible a coincidence.
Currently, the bullish phase is still showing a stable consistency again the currency is strongly supported by Tesla including Elon Musk, the founder of Twitter, Jack Dorsey and Wall Street who want to launch a bitcoin service soon.
