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Price Analysis April 1: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LEO

Published 04/01/2020, 03:00 PM
Updated 04/01/2020, 04:40 PM
Price Analysis April 1: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LEO

The Dow Jones Industrial Average had its worst first quarter on record. Compared to that, Bitcoin only fell about 10% over the same period, which shows clear outperformance. The resilience of Bitcoin (BTC) in the current crisis shows that it has arrived on the big scene and that it can weather a storm better than some of the traditional asset classes. This is likely to attract several institutional players to Bitcoin.

Now, what can we hope for during the second quarter? Bitcoin has a very important halving event coming up next month. This has been positive for the price action during the previous two halvings. This time, however, analysts are divided. Nonetheless, the second quarter, barring the dip in 2018, has always closed in the green. This shows that cyclically, Bitcoin’s price is likely to rise in this quarter.

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