Bitcoin experienced another positive month, making April its fourth consecutive month of gains, according to data from Coinglass.
Bitcoin’s four-month performance comes amid a banking crisis and reveals that the Silvergate and Silicon Valley shutdowns have not affected Bitcoin.
The current bull market for Bitcoin is compared to the rally in 2019
According to data from CoinglassAs of April 28, Bitcoin has had another successful month, marking the passage of the fourth Positive month in a row. The last time this happened was in 2019 when the economy recovered from the worst of the bear market and produced five consecutive months of growth from February to June.
Since the beginning of the trading year, Bitcoin has maintained a 3-month bullish candle and is now on its fourth line.
Individual and institutional cryptocurrency investors have been interested in bitcoin due to its rapid price fluctuations, which pushed it above $30,000 for the first time since June 2022.
Making bullish price predictions for BTC, cryptocurrency professionals, celebrities, and even some traditional financial analysts have recently made the cryptocurrency the focus of serious conversation.
in the report of ReutersJeff Kendrick, Head of Digital Asset Research at Standard Chartered, predicted that the Bitcoin price could reach $100,000 by 2024.
In addition, Robert Kiyosaki, the well-known author of the best-selling Rich Dad, Poor Dad, recently predicted a price of $100,000 for Bitcoin.
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The closure of Silvergate and Signature Bank did not stop the growth of Bitcoin
according to CNBCIn the midst of the global banking crisis, investors have rediscovered the appeal of bitcoin as an alternative banking system, and it rose during the month of March after stabilizing in February.
Bitcoin prices rose even after the closure of Silvergate and Signature Bank, two of the most crypto-friendly institutions.
However, they have taken an in and out ramp between fiat money and cryptocurrencies with them, and this is likely to affect the liquidity of cryptocurrencies until new players fill the void.