Bitcoin's Monthly Increase

Bitcoin Marks Another Monthly Increase Since Q4 of 2017

Bitcoin, the world’s most popular cryptocurrency, has marked its another monthly increase and closed first 3-month winning streak since Quarter 4 of 2017.

Bitcoin is, at present, trading at around $5,390, representing an exceptional gain of $1,300 on the monthly opening cost of $4,081, having gained 9.8% in February and 8.16% in March.

By closing April with nearly a 30% increase, Bitcoin could mark its first 3-month run of gains since the last quarter of 2017. In Quarter 4 of 2017, the leading cryptocurrency, Bitcoin, recorded increases of 48% in October, 54% in November and 39% in December.

If Bitcoin was able to hold on to highs above $5,600, reached on 23 April, then the month of April could have seen gains above 35%.

Owing to the fact that Bitcoin is set to go through a mining reward halving in May 2020, the anticipation for Bitcoin to post consecutive new monthly highs are expected, and as we head into the month of May, the Bitcoin price has shown magnificent resilience even in the face of the recent as well as troubling Bitfinex/Tether news.

While there was a dip last week at the time Tether and BitFinex ‘fraud’ news came out, the Bitcoin price held above $5,000 and continued to maintain a rising line of support.

In case Bitcoin continues on the same path, then it has to be a matter of time before BTC tests $5,500 and if the market leader can get above that price point, $6,000 need to be just around the corner.

However, it will not be unless we get to the end of this new month that we can be entirely sure about how this will unfold. For now, we simply take what we can get, and that’s a positive 3-month winning streak for Bitcoin.