Analysts remain optimistic that green will reappear on the Bitcoin chart in April.
In addition, BTC strengthens its position and becomes more and more resistant to the influence of unfavorable factors.
Bitcoin emerges victorious from crisis situations
Recently, there have been many difficult situations that could bury the dreams of a new Bitcoin ATH for a long time. The best example is Russia’s attack on Ukraine, which could lead to investors starting to withdraw en masse from the risky digital asset. However, this did not happen, and at one point there were even a dozen percentage increases in crypto due to fears of Russians fleeing exchanges. Even the recent concerns about the European Union blocking the proof-of-work method did not have a major impact on the exchange rate of the most important cryptocurrency. Ultimately, it turned out that the European Parliament was against the PoW ban.
ATH April last year
Last year, April turned out to be a very good month for Bitcoin. It was then that a new price record was set: $64,863, which was only broken at the end of the year.
Green April for Bitcoin
The closing of the previous month at $45,517 meant a drop of some percent compared to the previous days. However, if you look at the last 7 days, the rate is up 3.8% (see also: Highest weekly close since early 2022).
This decline did not end the popular S2F model. While the current rate does not match the forecast, there have been larger discrepancies in the past. The popular PlanB analyst believes that at the current price there is a 55% discount on Bitcoin. However, he stresses that the rate may go up or down before the next halving.
Another analyst, Kevin Svenson, believes that in the current situation, Bitcoin is trading in the breakout zone, which may lead to further gains. However, the forecast will be invalidated if BTC fails to hold the support at $44,000.
What do you think about April’s earnings chances? Could there be a new ATH in the next few weeks?