Bitcoin Prices Starts To Rally to 20K today

It’s been a hazy will the season for bitcoin, but here comes sunlight. After shedding $119 billion-plus from the market cap in Q1 amid pressure from regulators and the cold shoulder from advertising platforms, the bitcoin prices are ready to get a rebound. Plus it appears the heavens are beginning to align for that to take place from the second quarter. CNBC’s Brian Kelly outlined the drivers in the bitcoin price for the new quarter, and we’ve included with them.

US Tax Season’s Nearly Over
April 15 marks the end of tax season in the United States, and it’s near. Investors who profited from bitcoin’s massive rally in December have to generate the bucks to pay Uncle Sam now, which could explain a part from the selling pressure from the bitcoin price in March. Kelly noted that any “tax-related selling” that’s been happening in March will probably come to an end in a little more than a week. (Separately, Kelly also noted how the blockbuster $2 billion Telegram ICO could have attracted investments faraway from BTC.)

Coincheck Deal in Sight
As CCN previously reported, Japan’s Coincheck could possibly be on the block. It’s not only available though the potential buyer, online brokerage Monex Group, is the parent company of US-based TradeStation (with massive data and charting capabilities) and is publicly operated.

“It’s a tremendous confidence boost; an individual has a regulated public company in Japan buying in to a crypto exchange,” Brian Kelly, CEO of BK Capital Management, told CNBC.

Kelly added that “massive, massive sentiment shift.”

History Is on Bitcoin’s Side
If you do not were looking to buy the dip, March was difficult to watch out for bitcoin investors. But however the bitcoin price suffered, the performance only proves that history repeats itself. March is historically a dismal month to the leading cryptocurrency, “rising only 1 with the last seven years [in 2013],” as per Fundstrat data.

That’s very good news for April because historically, this really is among the best trading months to the bitcoin price, “rising five from the last seven years,” Fundstrat says.

Other Tailwinds
The forces for bitcoin are stronger compared to the forces against it. While these 3 drivers of the bitcoin price appear imminent, there may be others. For example, major bitcoin markets all over the world such as Usa are awaiting a regulatory framework to look at fit around go ahead and take uncertainty out of your equation, among other reasons. It can be the catalyst the cryptocurrency markets should bring them over the top.

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