Bitcoin Aims For $83,000 End Of April and Traders Bullish On Ethereum

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Last Updated on 4 April 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Bitcoin bounced off the $60k mark and trades at $58k again on Sunday, proving that the warning by analysts and crypto enthusiasts rang true: the $60k barrier will be hard to break.

However, most agree that if that is done decisively, a climb towards the region of $70k or even $80k is what is to be expected for the rest of the month.

Ethereum reached a new all time high while Filecoin looks set to break the top 10 at CoinMarketCap. It is rising 7% in the past 24 hours.

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The $60k ceiling

Earlier this week, as April kicked off, traders and analysts were glad that the historically bad month of March had ended without a hiccup for the best known cryptocurrency. April should be more bullish if history is any guidance, although the $60k ceiling will have to be taken down at first.

Danny Scott, the CEO of the Bitcoin exchange CoinCorner, said that the law of averages should put Bitcoin at $83,000 in April. He wrote that the:

Law of averages gives Bitcoin an $83,000 price target for April. Average over 10 years in April +51%.

Bullish Ethereum

Meanwhile it was remarkable to see that Ethereum broke through a new all-time-high before Bitcoin did. Wall Street investors are apparently taking a fresh look at Vitalik Buterin and are concluding that it’s investable.

On 25 March still, Ethereum was trading at around the $1,500 – $1,600 mark. It has thus in the past ten days concluded a 25% rally. Professional traders are highly optimistic about the coin, which can be seen when looking at the surging futures’ basis, which has reached its highest level ever.

Over in the altcoin market, the rise of Filecoin continues unabated and the small crypto looks set to attack the top ten at CoinMarketCap. In the past day, Filecoin is up 7%, in the past week a whopping 47%.

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