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Bitcoin Prices Starts To Rally to 20K today

It’s been a hazy start to 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 price is ready for any rebound. Plus it appears the celebrities are beginning to align with the that occurs within the second quarter. CNBC’s Brian Kelly outlined the drivers in the bitcoin price for that new quarter, and we’ve included with them.

US Tax Season’s Nearly Over
April 15 marks no more tax season in the United States, and it’s approaching. Investors who profited from bitcoin’s massive rally in December are receiving to come up with the money to cover Uncle Sam now, that may explain a portion with the selling pressure from the bitcoin price in March. Kelly noted that any “tax-related selling” that’s been happening in March is going to end within a nothing but weekly. (Separately, Kelly also noted how the blockbuster $2 billion Telegram ICO could possibly have attracted investments far from BTC.)

Coincheck Provide Sight
As CCN previously reported, Japan’s Coincheck might be on the market. It’s not only for sale however the potential buyer, online brokerage Monex Group, is the parent company of US-based TradeStation (with massive data and charting capabilities) and is also publicly owned.

“It’s a massive confidence boost; you now have a regulated public company in Japan buying in 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
Until you were thinking about buying the dip, March was tough to watch for bitcoin investors. But however the bitcoin price suffered, the performance only proves that history repeats itself. March is historically a dismal month for that leading cryptocurrency, “rising just one of the last seven years [in 2013],” much like Fundstrat data.

That’s good news for April because historically, this is one of the better trading months for the bitcoin price, “rising five from the last seven years,” Fundstrat says.

Other Tailwinds
The forces for bitcoin are stronger than the forces against it. While these three drivers in the bitcoin price appear imminent, there might be others. As an example, major bitcoin markets around the world such as the Usa are awaiting a regulatory framework to consider contour around make uncertainty from the equation, among some other reasons. It could be the catalyst the cryptocurrency markets must bring them over the top.

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