Bitcoin, the most important cryptocurrency in the cryptographic ecosystem, has been experiencing a steady increase in value for the past few months. The recent rise from 28 thousand to 29 thousand places it in positive returns for the month of April. Investors and financial experts have been closely watching the market trends and have wondered if the bullish trend will continue in the near future.
The cryptocurrency has been showing signs of price recovery since the beginning of the year, despite the events that have affected other cryptocurrencies derived from the banking crises that have been developed in the first quarter of this 2023.
Bitcoin price last 30 days – Source: CoinMarketCap
In the graph above you can see how bitcoin has gone from 27 thousand dollars, to a little more than 29,600 dollars at the time of writing this note. This increase confirms that April has been the fourth consecutive month with sustained growth for cryptocurrency.
According to the data provided by Coinglass, a cryptocurrency data analysis platform, we are led to assume that If bitcoin closes the month above $28,000, it would be more than enough for it to obtain a positive return in the month of April, which so far stands at 4.38%. at the time of writing this note.
Bitcoin Monthly Returns – Source: Coinglass
Last month bitcoin reached its second highest performing month of the year, with 22.96%, being January the one that so far exceeds it with a performance close to 40%. The data from the portal tells us that It would be the second time in the last decade that bitcoin brings together the first quarter of the year with positive returns.
Recently, another bank in the United States had intervention by the Federal Reserve to avoid a possible fall and, parallel to this, the price of bitcoin began to rise, which at that time was in the band of 28 thousand dollars.
What is undoubted is that bitcoin has increased more than approximately 66% so far this year, an important number for cryptocurrency users and investors. But what is even more relevant is that the market has been showing resistance to external factors, which could suggest that Bitcoin, as an ecosystem, continues to mature.
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