31.03.202110:08 Forex Analysis & Reviews: Experts predict Bitcoin to reach a new record in April

There are several factors that contributed to Bitcoin's optimistic scenario for April. First, analysts believe that the leading cryptocurrency is supported by historical data. Statistics show that the most favorable time for the coin is the middle and end of spring. Since 2009, Bitcoin showed negative dynamics in April two times only. The price rebounded by 6% in 2014, and by 4% the following year. This was repeated in May for 12 years. Bitcoin also declined twice in the last spring month. In 2015, it lost 1% in price, and in 2018, there was a more noticeable fall – 18%.

Based on the observation of analysts, they are almost sure that the digital asset will grow next month, instead of decline. The fact is that the previous April pullbacks occurred exclusively in the bearish period. At present, the outlook is different: the market is in a bullish cycle, which provokes a regular weekly growth.

Statistics from the past 10 years also suggest that the upcoming month will be a period of rapid growth for the digital asset. On average, Bitcoin's price rose by more than 50% in April. If the scenario repeats, then the global cryptocurrency may reach a new historical high, namely at $ 80,000, at the end of the second spring month.

The recent indicators also form a favorable forecast for Bitcoin. The price of the coin has been increasing for the six consecutive months. Over these months, it has increased 5 times, and Bitcoin closes March with a 30% increase.

Aside from that, the latest financial news is making the crypto market interesting. This week, two huge payment system companies made significant steps towards the digital coin. A few days ago, Visa announced that it had integrated stablecoins into its system and conducted a cryptocurrency transaction for the first time. Yesterday, it was reported that American PayPal customers received the opportunity to use Bitcoin, Bitcoin Cash, Ethereum and Litecoin to pay at 29 million retail outlets. In view of the latest news, the Bitcoin exchange rate sharply increased, trading at $59.5 thousand earlier.

Bitcoin is strengthened by the position of reputable banks associated with it. More and more financial institutions are beginning to explore the crypto space everyday, offering their clients services related to digital assets. The oldest American bank, BNY Mellon, also followed the trend. Recently, it published a report where Bitcoin is called the new gold. BNY Mellon analysts give a very optimistic forecast for the asset based on the analysis of the ratio of the shortage of coins in circulation and their prices. According to this model, Bitcoin's movement allows experts to think that by the end of this year, the world cryptocurrency can reach the level that has been repeatedly voiced by other experts. In particular, this is the $100 thousand mark.