As the market for digital asset continues to gain wider acceptance and adoption, a push for Bitcoin's price is expected to be triggered after weeks of relative stability. Looking at a historical chart of the decentralized finance (DeFi) asset, Bitcoin (BTC) is exhibiting a pattern of upward movements following Easter weekends, which might indicate imminent market activity. CryptoYoddha, a cryptocurrency and finance analyst, believes that a break above the $35,000 level is possible in the coming weeks if Bitcoin manages to maintain the $25,000 support. Furthermore, the analyst suggests that the price could go as high as the $48,000 by May or June - before correcting back to $25,000 - and eventually reach the $90,000 level by April 2024.

Further evidence to support this possible surge is observed in past years where on the heels of Easter, BTC had risen by 225.33%, in 2012; 94.83%, in 2016; and 167.88%, in 2019. Stockmoney Lizards, another pseudonymous crypto market analyst predicts that the crypto-asset could hit a $40,000 mark in late May. Currently, BTC is trading at $27,945 - a 0.03% increase on the day, a 0.34% decrease on the week, and a 25.78% growth on the month.

Compared to other traditional asset classes, Bitcoin has recorded an impressive 170.32% return on investment (ROI) during the first quarter of 2022. This further alludes to the fact that the digital asset is likely to appreciate further as it begins to receive wider investment and adoption.



Other News from Today