3 Reasons Why Bitcoin Price Will Rebound

 Bitcoin Price Falls Below $6,800 in Struggle to Sustain Short-Term Momentum. The bitcoin pricehas declined from $7,300 to $6,594, recording yet another 10 percent correction.  

 It’s been a hazy start to the year for bitcoin, but here comes the sun. After shedding $119 billion-plus from its market cap in Q1 amid pressure from regulators and the cold shoulder from advertising platforms, the bitcoin price is ready for a rebound.  

  CNBC’s Brian Kelly outlined the drivers of the bitcoin price for the new quarter, and we’ve added to them. 

 

• US Tax Season’s Nearly Over

April 15 marks the end of tax season in the United States, and it’s just around the corner. Investors who profited from bitcoin’s massive rally in December are having to come up with the money to pay Uncle Sam now, which could explain a percentage of the selling pressure in the bitcoin price in March. Kelly noted that any “tax-related selling” that’s been happening in March is going to come to an end in a little more than a week. (Separately, Kelly also noted that the blockbuster $2 billion Telegram ICO may have attracted investments away from BTC.) 

 

• Coincheck Deal in Sight

 Brian Kelly, CEO of BK Capital Management, told CNBC.: 

 

“It’s a massive confidence boost; you now have a regulated public company in Japan buying into a crypto exchange,” 

  

• History Is on Bitcoin’s Side

 As per Fundstrat data :

 March is historically a dismal month for the leading cryptocurrency, “rising only one of the last seven years [in 2013],  That’s good news for April because historically, this is one of the best trading months for the bitcoin price, “rising five of the last seven years, 

 Hold in Bull market if you want.
Swing trade in Bear market.
If you have too much hodl mindset you can be rekt. Say btc mooned, you held through it all. Now you need the money , however let's say we are in bear market for a couple years. Now you are screwed and have to sell for break even price or for a loss. 

It's supposed to be a currency, not a Ponzi... But I guess the irs killed all those innovations, so Ponzi is all that's left... 

SOURCE: ccn.com

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THIS #ARTICLE IS NARRATED FROM DIFFERENT SOURCES COINBASE, NEWS BTC  &  cointelegraph . This #article should not be taken as, and is not intended to provide, #investment #advice. Please conduct your own thorough research before #investing in any #cryptocurrency.