RATE Group | Bitcoin Rises Above $8.1K as Bulls Eye April Gain for Fifth Year Running
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Bitcoin Rises Above $8.1K as Bulls Eye April Gain for Fifth Year Running

29 Apr Bitcoin Rises Above $8.1K as Bulls Eye April Gain for Fifth Year Running

Posted at 12:18h in Bitcoin News by

Bitcoin’s price jumped above $8,100 on Wednesday, making an April gain for the fifth consecutive year all but certain.

The top cryptocurrency by market capitalization rose to $8,191 at 11:15 UTC, its highest level since March 10, according to CoinDesk’s Bitcoin Price Index.

At press time, bitcoin is hovering near $8,170, representing a 4.5% gain on the day. Prices are now up 26% on a month-to-date basis and 13.6% year to date.

An April gain would be confirmed if prices
hold above $6,428, the monthly opening price, through Thursday’s UTC close.

While a price pullback in the next 24 hours cannot be ruled out, a drop all the way back to levels under $6,428 looks unlikely, as technical studies are biased bullish and the speculative buzz surrounding the upcoming mining reward halving is likely to limit any losses.

So, bitcoin looks set to end April in the green, having put in a positive performance in the same month over the last four years.

Bitcoin has performed well in April in six out…

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