Bitcoin Prices Starts To Rally to 20K today

It’s been a hazy will the entire year for bitcoin, but here comes sunshine. After shedding $119 billion-plus from its market cap in Q1 amid pressure from regulators and the cold shoulder from advertising platforms, the bitcoin cost is ready to get a rebound. Plus it appears the heavens start to align for that to occur inside the second quarter. CNBC’s Brian Kelly outlined the drivers with the bitcoin price for the new quarter, and we’ve combined with them.

US Tax Season’s Nearly Over
April 15 marks the end of tax season in the usa, and it’s just around the corner. Investors who profited from bitcoin’s massive rally in December have to come up with the bucks to pay Uncle Sam now, that may explain a share with the selling pressure in the bitcoin price in March. Kelly noted that any “tax-related selling” that’s been happening in March is going to ended in the just every week. (Separately, Kelly also noted the blockbuster $2 billion Telegram ICO might have attracted investments far from BTC.)

Coincheck Deal in Sight
As CCN previously reported, Japan’s Coincheck may be on the market. It is not only for sale nevertheless the potential buyer, online brokerage Monex Group, could be the parent company of US-based TradeStation (with massive data and charting capabilities) which is publicly traded.

“It’s an enormous confidence boost; you now have 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 thinking of buying the dip, March was difficult to watch for bitcoin investors. But although 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 in the last seven years [in 2013],” depending on Fundstrat data.

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

Other Tailwinds
The forces for bitcoin are stronger as opposed to forces against it. While these three drivers in the bitcoin price appear imminent, there may be others. As an example, major bitcoin markets worldwide such as the Usa are awaiting a regulatory framework to consider shape to consider the uncertainty out of your equation, among some other. It may be the catalyst the cryptocurrency markets should bring them extraordinary.

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