Top Analyst Predicts 12% Surge For Bitcoin (BTC) In April

Thielen suggests that Bitcoin (BTC) is positioned for a potential surge in April as cited reference patterns as a basis for the prediction

Sophia Cruz•Friday, March 29, 2024•1 min read

Markus Thielen, a leading crypto market analyst, forecasts a 12% rally in Bitcoin (BTC) price for April, citing historical trends and increasing market confidence preceding the Bitcoin halving event.

op Analyst Predicts 12% Surge For Bitcoin (BTC) In April

Thielen suggests that Bitcoin (BTC) is positioned for a potential surge in April as cited reference patterns as a basis for predicting this potential increase in BTC price.

Based on historical patterns, Thielen points out April’s tendency to generate positive returns for Bitcoin, with six out of the last ten years witnessing significant price increases

Although investors are eagerly anticipating the upcoming month, given the historical data showing a robust correlation between March and positive Bitcoin returns, this anticipation comes against a backdrop of market volatility and optimism.

Furthermore, the hype surrounding the upcoming Bitcoin halving event contributes to the market’s optimistic sentiment. Although historical data suggests a propensity for Bitcoin to rally post-halving, analysts still warn about relying solely on past performance to predict future outcomes, emphasizing the unpredictable nature of the crypto market.

Amid speculation surrounding Bitcon’s potential rally in April, market confidence gets a boost from strong inflows in the spot Bitcoin ETFs. The increasing interest in Bitcoin investment reflects a broader acceptance of cryptocurrencies among institutional investors, thereby reinforcing Bitcoin’s position as a mainstream asset class.

Meanwhile, Matthew Hougan, the chief investment officer at Bitwise, suggested that institutional investors might channel up to $1 trillion into Bitcoin (BTC) via ETFs as they gradually enter the cryptocurrency.

In a memo released to investment professionals, Hougan addressed concerns over Bitcoin’s price volatility. With the asset fluctuating between $60,000 and $70,00, the executive recommended to maintain composure and adopting a long-term perspective.

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ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.