Good News – Bitcoin Touched $60,000

Good News – Bitcoin Touched $60,000

Bitcoin News Blockchain
April 9, 2021 by Editor
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According to Kraken Intelligence, with April being the second-best performing month on average, one would expect bitcoin to finish higher. As a result, they’re tied for the longest winning streak in the history of cryptocurrencies. During the beginning of the month, Bitcoin, the world’s most popular cryptocurrency, regained the $60,000 mark on Saturday. At 12:10
Digital Bitcoin

According to Kraken Intelligence, with April being the second-best performing month on average, one would expect bitcoin to finish higher.

As a result, they’re tied for the longest winning streak in the history of cryptocurrencies.

During the beginning of the month, Bitcoin, the world’s most popular cryptocurrency, regained the $60,000 mark on Saturday.

At 12:10 p.m. IST, cryptocurrency was up 4.5 per cent to $60,675.87, while ethereum was up 4.7 per cent to $2,173.63.

The crypto market’s volatility has fallen in recent weeks after six months of double-digit returns in bitcoin (BTC).

Experts, on the other hand, assume that a significant change is imminent.

In the same year, Bitcoin hit a low of $777.76 and a high of $19,497.40. This year, the world’s oldest cryptocurrency has gained 109 per cent.

Institutional demand and the passage of the $1.9 trillion Covid-19 relief package in the United States helped Bitcoin rise 30% in March 2021.

Kraken Intelligence forecasts that bitcoin will finish higher in April, after being the second-best performing month on average.

According to historical data, the second quarter of the calendar year is typically a positive yielding quarter for bitcoin and ethereum.

Looking back to 2011, BTC has averaged a 256 per cent return in 2Q, while ETH has averaged a 141 per cent return in 2Q.

Except for the second quarter of 2018, bitcoin has always given a positive return in the second quarter, averaging a 256 percent return.

Bitcoin could trade for about $209,000 on July 1, 2021, based on its end-of-March price of $58,786. And the expectation that it closes 256 per cent higher in the second quarter of 2021.

The world’s largest cryptocurrency would be worth about $82,000 if a more accurate mathematical model is used.

The world’s second-largest cryptocurrency will be worth $4,643 if history repeats itself. And ethereum grows 141 per cent in the second quarter.

If you use the median 2Q return of 71 per cent, this works out to $3,281.

Meanwhile, bitcoin’s steady uptrend resulted in volatility dropping nearly 40 percentage points. This brings it to a near three-month low of 63 per cent.

Trading volumes fell 5% due to the lack of market volatility, reaching a year-to-date low of roughly $255 billion.

April is 21 percentage points more volatile than March on average and is the second-best performing month. Hence, a revival in market volatility may affect bitcoin’s price.

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