Average Bitcoin Gains In April Are 51%

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Bitcoin is about to start one of its best months in it’s still young history. Remember that the genesis block was mined in 2008, this means that we only have some 12 years of past months to look to for comparison.

Still, if historic behavior could predict the future, then $80,000 is where we should end up in about 30 days from now.

Tax year ending

March saw Bitcoin remain mostly steady after a very bullish first two months of the year. Tech-heavy stock markets like Nasdaq even experienced a correction, but Bitcoin was able to remain in the $50k to $60k range. Now, as April is ready to start, and a lot of investable money is freed up because of the end of the US and UK tax year, another bull run could start.

Danny Scott, CEO of cryptocurrency exchange CoinCorner explained why. He stated:

As with any month, the potential price prospects of bitcoin can be split into a number of different thought processes,

Time of the year can be a factor and the month of April is always highlighted, as it’s the end of the U.K. and U.S. tax year. Taking history into account, it very well may stack up.

Furthermore, given the fact that Bitcoin is in a bullish run for the moment, the data could indeed work in it’s favor. Scott noted that:

There have only been two negative Aprils since bitcoin began—in 2014 (-6%) and 2015 (-4%)—which is tied coincidentally with the following month of May with only two negative months—2015 (-1%) and 2018 (-18%)—so maybe there is some momentum and truth from this.

Sam Bankman-Fried, CEO of crypto exchange FTX, claimed that after pullbacks in price around monthly options expiry, the Bitcoin price normally rallies afterwards, according to historical data. He therefore expects a bullish April, stating:

BTC derivatives have been the primary drivers of spot markets for years. At least since 2018, derivatives move spot more than spot moves derivatives.

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