Bitcoin briefly dropped under support at $45,000 before recovering as it heads toward April, a seasonally bullish month that has chalked up gains for the asset in seven out of the past ten years. By shauryamalwa
Is Bitcoin Still In a Bull Market?
“No one knows for sure what's the explanation for the usual 'April's Bull,'” shared Asaf Naim, CEO of bitcoin development company Kirobo, in a Telegram message. “Some speculate that it's a psychological phenomenon tied to the beginning of spring.” Bitcoin traded as low as $44,200 on Thursday night after a two-month-high of $48,000 on Wednesday. Traders, however, bid up bitcoin to support at $45,000. Losing current levels over the weekend could see bitcoin drop to $43,400.The drop came amid recession fears as 5-year and 30-year US Treasury yield curves inverted for the first time since 2006 on Monday.
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