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Vandana Malik
Apr 1, 2020
by Vandana Malik

Will Bitcoin be Able to Repeat History in April

repeat history
The whole financial market across the world is going through a very bad phase due to the coronavirus epidemic. Amid all this, the crypto market has also seen some major downfalls. The price of bitcoin has gone down significantly causing havoc in the market. Although there is huge volatility in the whole financial market, there are few questions about whether bitcoin will be able to repeat the history of the previous year.

In April 2019 bitcoin has managed some huge gains as on 1 April where it gained around $1000 in a single day.

Where would this year’s circumstances lead bitcoin

Even though bitcoin was trading very low in April 2019 but the sudden rise in its price was due to several technical changes. The circumstances that led towards the surge in price last year are quite different as compared to this year. Some people related to the crypto industry have also related this sudden rise in price to April fool. As the price has increased over $1,000 on 1st April only which is April fools day, people indicated that it was triggered by a joke.

This year the whole financial market has been shaken due to the COVID-19 pandemic. People have been facing some huge losses due to this slowdown in the market. This increased volatility in the market is quite uncertain and nobody is sure what will be the future of bitcoin. Due to such circumstances, the price of bitcoin could not be predicted.

Bitcoin halving might change the scenario 

Although there is huge volatility due to the pandemic, there are some bullish situations which indicate that bitcoin might get better. This could be possible by bitcoin halving which is to be held in the month of May. When halving will be done, the supply will be reduced and this will ultimately increase the price of bitcoin.

Recently, bitcoin came under the green zone as it is dealing at the price above $6,800. It has also been expected that soon it will touch the mark of $7,000 and will move towards its price revival.

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    Vandana Malik
    Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

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