Historical trends serve as an indicator for traders to assess the possibilities of the future. April has been a bullish month for the price of (), with eight monthly closes in green and only two cases of negative returns.
Danny Scott, CEO of Bitcoin exchange CoinCorner, said that Bitcoin’s price could rise to $ 83,000 if it emulates its April average profitability of 51%, as has happened for the past 10 years.
This could be one of the reasons that miners have started to hold their positions instead of selling at current levels. Lex Moskoviski, the CIO of Moskoviski Capital, recently highlighted that miners had hoarded 4,380 Bitcoin on April 2 and 4,494 Bitcoin on April 3.
Read the full article on Cointelegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.