Analysts Bullish As Bitcoin Enters April, Filecoin (+36%) And Tron (+25%) Soar

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Last Updated on 1 April 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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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.

Advertentie.

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.

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.

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.