It’s been a hazy will the year for bitcoin, but here comes the sun. After shedding $119 billion-plus by reviewing the market cap in Q1 amid pressure from regulators and also the cold shoulder from advertising platforms, the bitcoin prices are ready to get a rebound. And it appears the celebrities have started to align for that to occur in the second quarter. CNBC’s Brian Kelly outlined the drivers of the bitcoin price for the new quarter, and we’ve combined with them.

US Tax Season’s Nearly Over
April 15 marks eliminate tax season in the us, and it’s near. Investors who profited from bitcoin’s massive rally in December are having to generate the money to spend Uncle Sam now, which may explain a share of the selling pressure within the bitcoin price in March. Kelly noted that any “tax-related selling” that’s been happening in March will probably come to an end in a nothing more than a week. (Separately, Kelly also noted that this blockbuster $2 billion Telegram ICO could have attracted investments faraway from BTC.)

Coincheck Deal in Sight
As CCN previously reported, Japan’s Coincheck could possibly be on the block. It is not only for sale though the potential buyer, online brokerage Monex Group, will be the parent company of US-based TradeStation (with massive data and charting capabilities) and it is publicly operated.

“It’s a massive confidence boost; you now have the regulated public company in Japan buying right into a crypto exchange,” Brian Kelly, CEO of BK Capital Management, told CNBC.

Kelly added that “massive, massive sentiment shift.”

History Is on Bitcoin’s Side
Unless you were looking to buy the dip, March was difficult to await bitcoin investors. But however the bitcoin price suffered, the performance only proves that history repeats itself. March is historically a dismal month to the leading cryptocurrency, “rising only 1 of the last seven years [in 2013],” according to Fundstrat data.

That’s nice thing about it for April because historically, this really is the most effective trading months to the bitcoin price, “rising five from the last seven years,” Fundstrat says.

Other Tailwinds
The forces for bitcoin are stronger compared to forces against it. While these 3 drivers of the bitcoin price appear imminent, there can be others. For instance, major bitcoin markets all over the world including the United states of america are awaiting a regulatory framework to look at shape to make uncertainty out of the equation, among other reasons. It can be the catalyst the cryptocurrency markets must drive them outrageous.

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