Here's why April may be the best month yet for Bitcoin price
U.S. dollar weakness is painting a bullish short term outlook for Bitcoin in April. The U.S. dollar is starting to weaken once again as sellers are pushing the U.S. Dollar Index (DXY) downward, which could strengthen the momentum of Bitcoin (BTC) in the near term.Alternative assets like Bitcoin and gold are priced against the dollar. Hence, when the DXY starts to drop, it often causes BTC to rally against the dollar.BTC/USD (orange) vs. DXY (green). Source: TradingviewDollar's share of global reserves is dropping fastAccording to Holger Zschaepitz, a market analyst at Welt, the U.S.....
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The Dogecoin price saw a much-needed rebound in the month of April after three months of agony for investors as its price crashed over 60%. On average, the meme coin is up by more than 6% this month, bringing it close to the $0.2 level, although unable to break it. With the month drawing to […]
The XRP price saw a rise in value over the weekend as bulls seemed to return to the table. Since the market has been low over the past few months, investors unsurprisingly took this as an opportunity to get out at a somewhat higher price. This has led to more negative networks over the last few days, adding even more red to the month of April that has been dominated by outflows. XRP’s April Outflows Cross $300 Million According to data from Coinglass, XRP has been struggling with negative net flows for the better part of April, recording more red days than green. Even the green days have....
Bitcoin’s decline in the last week of April has been felt around the market but altcoins have taken the biggest hit of all. More specifically, Small Cap altcoins have been on the receiving end of this decline. Even as the end of the month draws to a close, these altcoins have yet to get a reprieve from this decline. However, the month of May could prove to be better for these small market cap coins given that recoveries tend to come after the worst declines. Small Cap Altcoins Take The Heat All of the indexes have had a bad month in April but the Small Cap Index has suffered the most of....
XRP began April sitting above the key support level at about $1.30, yet the token remains well below where it opened the year. Historically, however, April has been one of altcoin’s strongest months, and a mix of on-chain data and a potentially decisive legislative event this month could result in a new turnaround. What Past Aprils Say About This Year’s Odds Market analyst Sam Daodu laid out the historical performance in a new report, noting that since 2014 April has produced an average return of 24.8% for XRP. On that metric, a rally of similar size from the current level near $1.34....
Bitcoin price has made gains over the past few days to set a new 3-month high of $443.69 today. The Bitstamp Price Index struck $440 at 16:00 yesterday, April 20 and has remained to hover over the figure ever since. At the time of publishing, the price of bitcoin was trading at $444. The figure represents the first time Bitcoin price has scaled beyond $440, with January 11 being the last time the cryptocurrency traded at the ceiling. Initial signs of a swell came to the fore first on April 19, when the price spiked from $430 at 20:30 to $434.55 in under 90 minutes. On April 20, yesterday,....