Get Ready for Green Candles! According to Analysts, Bitcoin Will Rise Again This Month!

The rise of Bitcoin, which started in 2023, created great enthusiasm in the market. #Bitcoin (BTC) may be on the verge of closing April with a big loss, as it is generally traded in the positive zone during this period.

A bearish market was triggered for Bitcoin earlier in the day today. The fact that the spot Bitcoin and spot Ethereum ETFs launched in Hong Kong did not see the expected interest, as well as the US Fed interest rate decision announcements that will take place tomorrow, seem to have dragged the market into uncertainty. So what do analysts think about BTC price action?

Losses appear to follow a seven-month bullish price outlook reflecting major events such as the launch of the first US spot Bitcoin exchange-traded fund ( #ETF ) and the halving.

In particular, he stated that during the price decline, the Bitcoin price had difficulty staying above $ 60,000 and explained that a possible decline below the mentioned level could bring larger declines.

The expert noted that Bitcoin has historically fallen in very short periods during bull cycles, with red candles appearing on the monthly outlook for very few investors, and added:

“We have only had 3 red moons once during a Bull Cycle, and that was in September 2019, but it was while Bitcoin was correcting the abnormal very early rise following the Libra enthusiasm.”

In his analysis, the analyst also emphasized that after each halving, #BTC formed a single red candle five times and a double red candle twice. This model reveals that short-term corrections may also occur, especially on the Bitcoin side, as investors prepare for the rise.

Upon a longer-term review, there may still be optimism for a recovery in the future. The analyst stated that there could be a return to positive territory in June, potentially resulting in another positive monthly performance outlook.
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