Markus Thielen, a seasoned crypto expert, has indicated that Bitcoin‘s value is poised for an upward trajectory in April. His analysis, which is informed by consistent historical patterns, suggests that the leading digital currency is likely to experience significant gains in the upcoming month. Thielen’s assessment is grounded in the notable trend of April being a month of positive returns for Bitcoin.
Anticipating a 12% Bitcoin Price Surge
During a recent analysis on a notable platform, Markus Thielen, CEO of 10X Research, forecasted a potential 12% surge in Bitcoin’s price for the month of April. The prediction is based on a decade’s worth of data, showing that the month has often harbored substantial increases, with six out of the past ten years witnessing significant surges.
Thielen links the current Bitcoin price volatility to a recurrent prelude phase observed historically before major price escalations, usually preceding block reward halvings. With the next halving expected soon, historical patterns suggest a consequent rally. The current trend has captivated the interest of both private and institutional investors, hinting at a lively and upward-moving April.
Spot ETFs Propel Market Momentum
The market’s current momentum is bolstered by substantial participation in spot Bitcoin ETFs within the United States, reflecting institutional investors’ burgeoning interest in Bitcoin-based investment products. The reduced outflows from Grayscale’s spot ETF, GBTC, demonstrate a shift in investor sentiment, indicating restored faith in Bitcoin’s enduring value. These dynamics are solidifying Bitcoin’s status in mainstream finance and boosting market assurance.
At the time of reporting, Bitcoin is valued at $69,979, showing a minor decrease of 0.88% over the past day. However, recent trends reveal a 7.96% increase over the preceding week and an 11.62% rise over the past month, underscoring a positive market direction.