On April 1, 2019, Bitcoin launched a major rally for three months, with the cryptocurrency rising from $ 3,000 to $ 13,000.
Will Bitcoin price go up once again April Fools & # 39; Day, or will the market not fall for the same tricks for the last time?
Fool Me Once: Bitcoin's 2019 Parabolic Rally Remembered
At the end of December 2018, Bitcoin put a "bottom" at $ 3,100 and spent the first quarter of 2019 near the lowest.
Starting from April 2019 Day, decline traders played out, waiting for an additional disadvantage as dummies, leaving the trading range and entering a parabolic rally.
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At each major resistance point, traders with a downward trend entered short positions that were used only as rocket fuel to maintain the strong rise of the asset, and their shorts rose as Bitcoin price rose.
The start of the rally was the speech of the financial world, and conspiracy theories surrounded a single actor that coordinated a large purchase order across multiple exchanges late at night.
Among other theories, trading bots Fake news that bitcoin price is rising on a joking holidayeventually asking them to place purchase orders in panic, causing prices to rise.
For whatever reason, last year's April Fools ’Day rally was one of the history books.
– Income Sharks (@IncomeSharks) March 25, 2020
Tricking Me Two: Will Crypto Money Be Collected Again on April Fools' Day?
Is it a situation when April Fools & # 39; Day is around the corner, this Bitcoin needs to deceive the market once again with a sense of weakness, then suddenly enter a big rally from every resistance level in the price table?
Things are obviously different this time, and while the holiday is a great opportunity to play candid jokes for friends and family members, markets aren't a laughing matter right now.
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Bitcoin recently suffered a historic record-breaking decline alongside stocks, gold and almost all other assets, as the economy and investors were supported by the long-term impact of the coronavirus and subsequent closures on the globe.
Explosive rallies are extremely volatile, but for the first time the cryptocurrency is the pattern, but a sudden capital inflow to any asset other than cold is unlikely in the current economic environment.
However, history often repeats and markets are cyclical, so there's always a chance for Bitcoin to be stupid for another tear-free and parabolic rally that doesn't buy at current prices.
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