Bitcoin closes first 3-month winning streak since Q4 of 2017

01 May, 2019 | Updated: 01 May, 2019
by Joeri Cant
Bitcoin
Bitcoin closes first 3-month winning streak since Q4 of 2017

The world's most popular cryptocurrency, Bitcoin, has marked another monthly increase and closed its first three-month winning streak since Q4 of 2017.

Bitcoin is currently trading at around $5,390, representing an impressive gain of $1,300 on the monthly opening price of $4,081, having gained 9.8% and 8.16% in February and March, respectively.

By closing April with almost a 30% increase, BTC could mark its first three-month run of gains since the last quarter of 2017. In Q4 of 2017, the leading cryptocurrency recorded gains of 48%, 54% and 39% in October, November and December, respectively.

If Bitcoin would have been able to hold on to highs above $5,600, reached on April 23, the month of April could have seen gains above 35%.

BTC/USD Chart provided by Tradingview

Due to the fact that BTC is set to undergo a mining reward halving in May 2020, the expectations for BTC to post consecutive new monthly highs are anticipated, and as we head into May, the price of Bitcoin has shown impressive resilience even in the face of the recent and troubling Bitfinex/Tether news.

While there was a dip last week when the Tether and BitFinex 'fraud' news came out, the price of Bitcoin held above $5,000 and continued to hold a rising line of support.

If BTC continues on this path, it should just be a matter of time before Bitcoin tests $5,500 and if the market leader can get above that price point, $6,000 should be just around the corner.

However, it won't be until we get to the end of May that we can be sure about how this will unfold.

For now, we take what we can get, and that is a positive three-month winning streak for BTC.

As always, stick with Chepicap for any and all updates!

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Read more about: Bitcoin (BTC)

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