Welcome to Blockchain Century.
This is Philip on April 1st, 2024 and the topic of this episode is Bitcoin's monthly close.
Last night's monthly close on Bitcoin saw the seventh successive green candle for the first time in Bitcoin's history, with a close at $71,316, which is also a monthly all-time high. This is staggering, especially given that we haven't yet reached the four-year halving event, which should take place on Saturday, April 20th, and all-time highs have always come at least 12 months after the halving events.
At this time, I would offer a word of warning. As I have mentioned before, in any bull run, we can expect around five retraces of 25% on average.
Given the vast majority of Bitcoin wallets are held by return investors, you will always see some profit taking around all time highs.
And at this time of year, you also have people paying their annual taxes, which in the US, I believe, are due on April the 15th. And this always results in a huge amount of withdrawals.
This was just a quick update and there are many significant events coming up over the next week or so, so enjoy the rest of your Sunday and we'll be back in the week with updates.
Thank you for listening here at Blockchain Century and please remember to subscribe at blockchaincentury.com.
Also, please remember that this is for educational and informative purposes only and not to constitute financial advice.
Share this post