Bitcoin (BTC) Starts Second Quarter Strong

Bitcoin (BTC) fell only 10 percent in total due to the coronavirus outbreak that destroyed stocks and caused the US to press $ 6 trillion. In the first quarter of 2020, BTC / USD fell only around 10.7 percent in the first quarter of 2020, according to the data for the last quarter on Skew.com on March 31

Macro Left Entities

According to CoinMarketCap data at the time of writing, BTC was trading at $ 6 thousand 379. At these levels, the BTC / USD pair lost only about $ 3,800 from its $ 10,300 level, which was only $ 700 lower than its position in early 2020. Bitcoin has risen 75 percent in two weeks since it reached its three-month low. Nowadays, which is a fluctuating period, earned 90 percent in some exchanges with BTC exceeding 7 thousand dollars. For this reason, Bitcoin is now seen as a stronger investment option against traditional markets that suffer from coronavirus.

Indicators Turned Green

Statistically, the second quarters of the year are the most profitable periods for Bitcoin owners. Since 2013, only a second quarter has yielded negative returns. Apart from that, Skew shows that average earnings were 65 percent in these periods.

The mood among analysts is also becoming more optimistic. In its final forecast on Monday, experienced trader Tone Vays said that BTC / USD no longer expects lower than $ 3,700. In early March, Vays had warned that Bitcoin could drop to $ 2,800.