Analysts Bullish As Bitcoin Enters April, Filecoin And Tron Soar

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Analysts are mostly positive as Bitcoin entered the month of April, which historically brought great returns for the greatest cryptocurrency.

Over in the broader altcoin markets everything was mostly green, with both Filecoin (up a whopping 36% today, more than 100% in a week) and Tron (also up 25% today, more than 50% in a week) standing out.

Midpoint

Technical analysts foresee a continuation of Bitcoin’s bullish 2021. Peter Brandt, the legendary commodities trader who extended his technical analysis to crypto as well since about a year go, claimed that we’re still:

In that midpoint pause where in 2017 Bitcoin swirled around for a month or two before we saw the final move up.

Another unbelievable month.

Q1 2021 will go down in the history books as one of the most bullish periods ever for #Bitcoin and crypto broadly. pic.twitter.com/Sk2OLanEgP

— Travis Kling (@Travis_Kling) April 1, 2021

Peter foresees a possible further 250% gain which would leave Bitcoin at around $200,000.

Earlier this week, Bloomberg’s Mike McGlone went further and predicted a possible $400,000 by the beginning of 2022 saying that Bitcoin is:

Well on its way to becoming a global digital reserve asset.

Nasdaq rebounds

Over in stock markets, the performance of the Nasdaq over the past few days has been remarkable, with many tech stocks growing several percentage points and the tech-heavy index rebounding from a clear correction a few weeks ago.

The bullish mood comes as President Joe Biden pushes ahead with yet another stimulus package, this time for infrastructure.

Tesla Motors, Inc. (NASDAQ:TSLA) - Tesla Q1 Deliveries To Beat Street Estimates, Says Wedbush | Benzinga https://t.co/0rbFyWL5ha

— Charlie Richmond (@charlierichmond) March 31, 2021

Growth stocks like Tesla were up the most. Analysts expect the Elon Musk company to have overdelivered during Q1.

Meanwhile, the printing of extra dollars in order to pay for all that investment could drive investors to deflation hedges like gold and Bitcoin in order to protect their cash.